marketing Flashcards
What is marketing?
Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
ultimate consumer
The target market for a product
organizational buyer
people who represent a business when buying a product
customer value requirements
performance, pricing, information, customer service
market orientation 3 parts
collect info, share info, create customer value
marketing concept
assumes only that happy custoners will return org should ssatisfy customer and achieve org goals
marketing mix
controllable factors Produc,Price,promotion,place
strategy
how to achieve goals of customer and org
portfolio matric
where we want to go stars,dogs,problemchildren, cash cow
Diversification anaylisis
Market penetration, Market development, Product development,diversification
THree stages of marketing process
Planning, Implementing, Evaluation
SWOT
Strengths Weaknesses Opportunities Threats
market segmentation
putting buyers into groups or segments
marketing research
Collecting data to fix a marketing problem and opportunity
five step marketing research approach
find problem, research plan, collect info, analyze data, take marketing action
three types of marketing research
Exploratory,Descriptive, Causal
Explorative REasearch
ideas about a vague problem
Descriptive research
THe frequency something occurs and extent of relationship between two factors
Causal research
examines the extent one factor affects another EG experiments and test markets
Purchase decision process
problem recognition, information search, alternative evaluation, purchase decision, post purchase behavior.
Problem recognition
Functional need and psychological need
search for info
internal search and external search
alternative evaluation
evaluative criteria the things you are looking for in a product Consideration set
Purchase decision
may wait for cheaper or go buy somewhere else
