MARKETING MANAGEMENT Flashcards
the process of planning for pricing, promotion and distribution of a product or service that will reach and satisfy customers and encourage them to return again to purchase that product or service in the future
Marketing
Marketing Management consists of:
a. analyzing market opportunities,
b. researching selecting target market,
c. developing marketing strategies,
d. planning marketing tactics, and
e. implementation and controlling market effort.
A company’s marketing environment consist of actors and factors external to the marketing management function of the organization that impinge on the marketing management’s ability to develop and maintain successful transaction with its target customers’ behavior.
ANALYZING MARKET STRUCTURE AND BEHAVIOR
Microenvironment:
a. Organization
b. Suppliers
c. Customers
d. Competitors
e. Public
ANALYZING MARKET STRUCTURE AND BEHAVIOR:
a. Microenvironment (immediate environment)
b. Macroenvironment (large societal forces)
Macroenvironment
a. Demographic
b. Economic
c. Physical
d. Technological
e. Political/Legal
f. Social/Cultural
Marketer’s market ten (10) main types of entities:
- goods,
- services,
- events,
- experiences,
- persons,
- places,
- properties,
- organizations,
- information, and
- ideas.
______ are physical items that can be seen, touched, owned and used in some physical manner.
Goods
______ include the work of airlines, hotels, car rental firms, barbers and beauticians, maintenance and repair people, and accountants, bankers, lawyers, engineers, doctors, software programmers, and management consultants.
Services
Marketers promote time-based events, such as major trade shows, artistic performances, and company anniversaries.
Events
example of events:
Global sporting events such as the Olympics and the World Cup are promoted aggressively to both companies and fans.
By orchestrating several services and goods, a firm can create, stage, and market experiences.
Experiences
Experiences example:
Walt Disney World’s Magic Kingdom allows customers to visit a fairy kingdom, a pirate ship, or a haunted house.
Each ______ can become a brand with the help of a celebrity marketer. Artists (musicians, actors, directors and so on) are those who come first in people’s mind when they think about marketing a person.
persons
persons - But, you may also build a brand for a CEO, successful lawyers, doctors and many other _______.
professionals
In order to attract tourists or companies to a certain place, people use marketing techniques to communicate its value. Therefore, we can surely talk about marketing for towns, cities and regions.
Places
places - every country has its own unique ________ and there are many tourism authorities for many regions throughout the world.
marketing approach
______ are intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds).
Properties
real property:
real estate
financial property:
stocks and bonds
properties are _____ and _____, and these exchanges require marketing.
bought; sold
________ work to build a strong, favorable, and unique image in the minds of their target publics.
Organizations
Organizations examples:
Universities,
museums,
performing arts organizations,
corporations, and
nonprofits all use marketing to boost their public images and compete for audiences and funds.
The production, packaging, and distribution of information are major industries. Information is essentially what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities.
Information
