Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

LSDM > Marketing Principles > Flashcards

Marketing Principles Flashcards

1
Q

What is Marketing?

(CIM)

A

Management process responsible for identifying, anticipating, and satisfying customer requirements profitably

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is Marketing?

(AMA)

A

Activity, set of institutions and process for creating, communicating, delivering, and exchaging offerings that have value for customers, clients, partners, and society at large

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is Marketing?

(AFM)

A

A connection of exchanges and a set of practices aimed at creating sustainable value for all stakeholders (individuals, companies, or organizations)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Define Marketing:

A

A process (or set of activities and institutions) that created offers based on the needs or requirements of customers and communicates them to those customers in order to create exchanges (sales) that generate value for customers, the company (profit), partners and society as a whole

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Marketing 1.0

Product-Centered Marketing

A

Focused on mass production and standarized products with little regard for customer preferences

(companies reduce costs and increase profits)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Marketing 2.0

Customer-Centered Marketing

A

“Customer is King”
Emphasized customer needs and satisfaction, leading to differentiation, segmentation, and one-to-one relationships

(it’s the customer who determines the company’s operations)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Marketing 3.0

Human-Centered Marketing

A

Goes beyond functionality and addresses personal fulfillment, social responsability, and environmental concerns

(companies start to distinguish themselves by their values)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Marketing 4.0

Transition to digital

A

Integrates physical and digital systems to serve customers at hybrid touchpoints

(technology is used in a simple way)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Marketing 5.0

Technology for Humanity

A

Aims to create a sustainable society using humanized technology and addressing challenges like the generation gap and digital inequity

(create a sustainable society based on intelligent technologies)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is MarketPlace?

A

The physical or virtual space where all of the offers from different players are presented to customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is a Customer?

A

An actual or potential buyer of products and services

(they may or may not have bought specific offers from the company)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is a Marketing Landscape?

A

Includes company resources, places of exchange, users/consumers/customers, partners, and legal/commercial conditions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Company Orientation

Product/Sales-Oriented

A

Focuses on achieving sales, targets, often neglecting customer needs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Company Orientation

Market-Oriented

A

Balances profit and customer satisfaction through market research and tailored offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Company Orientation

Socially Responsible

A

Prioritizes social welfare and sustainability alongside business goals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are Market Segments?

A

Subgroups within a market with similar needs and interests, allowing tailored marketing strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Types of Primary Markets

Consumer Markets (B2C)

A

Individuals or families buying for personal use

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Types of Primary Markets

Industrial Markets (B2B)

A

Businesses buying for production or other business purposes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Types of Primary Markets

Institutional Markets

A

Non-profit or for-profit institutions buying for their operations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Types of Primary Markets

Resale Markets

A

Intermediaries like wholesalers or retailers buying for resale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is a Product?

A

Tangible offerings that satisfy needs, including physical items and manufactured goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is a Service?

A

Intangible offerings involving actions, performances, or experiences

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What are Brands?

A

Distinctive sets of values and communication elements associated with products or services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What are Value Propositions?

A

Sets of products and services designed to meet specific market segment needs

(offering “something extra” beyond basic need fulfillment)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What is a Marketing Environment?

A

A common way of analyzing the context in which these elements (internal activities, customers, partners, and society) occur

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What is the Internal Marketing Environment?

(micro)

A

Factors within the company directly impacting marketing success

(ex: employers, customer info, budget)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What is the External Marketing Environment?

(macro)

A

Broader environmental factors indirectly affecting marketing success

(ex: political, economic, social)

28
Q

What is the Performance Marketing Environment?

(micro)

A

Specific elements within the internal environment directly impacting marketing activities

(ex: competitor analysis)

29
Q

Marketing Mix (4Ps)

Product:

A

Characteristic, design, packaging, unique value proposition

30
Q

Marketing Mix (4Ps)

Price:

A

Value perception, pricing strategies, production costs, competition

31
Q

Marketing Mix (4Ps)

Place:

A

Distribution channels, physical shops, online sales, intermediaries

32
Q

Marketing Mix (4Ps)

Promotion:

A

Advertising, public relations, digital marketing, sales promotions

33
Q

PESTEL Analysis

Political/Legal:

A

Relevant laws, regulations, and political systems

34
Q

PESTEL Analysis

Economic:

A

Economic development, purchasing power, financial trends

35
Q

PESTEL Analysis

Social/Demographic:

A

Demographic trends, consumption habits, and social values

36
Q

PESTEL Analysis

Technological:

A

Infrastructure, technological advancements, an their impact

37
Q

PESTEL Analysis

Environmental:

A

Environmental regulations, sustainability concerns

38
Q

PESTEL Analysis

Legal

A

Labor laws, consumer rights, intellectual property regulations

39
Q

Performance Marketing Environment

Customers:

A

Consumption habits, purchasing decision process, and segmentation

40
Q

Performance Marketing Environment

Suppliers:

A

Price, quality of raw materials, competitor supplier information

41
Q

Performance Marketing Environment

Marketing Intermediaries:

A

Wholesalers, retailers, distribution channels, and trends

42
Q

Performance Marketing Environment

Competition:

A

Direct and indirect competitors, business information, market shares

43
Q

Performance Marketing Environment

other Stakeholders

A

Regulatory bodies, industry associations, and their influence

44
Q

SWOT Analysis:

A

Identifies and evaluates internal strengths, weaknesses, external opportunities, and threats

45
Q

What is Marketing Intelligence?

A

Marketing information of external origins includes relevant and reliable elements that quantity, characterize or influence a specific market

46
Q

What is Competition?

A

Struggle for customers, resources, and market share

47
Q

What are Competitors?

A

Those with similar offerings to the same target audience

48
Q

What is Competitive Advantage?

A

Edge through unique strengths or features

(price, quality, innovation, etc.)

49
Q

Identifying Competitors

Industry Perspective:

A

Companies offering similar products/services

50
Q

Identifying Competitors

Market Perspective:

A

Companies competing for same customer money

51
Q

What is Competitive Analysis?

A

Identify main competitors, assess objectives, strategies, strengths/weaknesses, reactions
Choose competitors to attack/avoid based on market segments and value proposition

52
Q

Competitive Strategies

Global Leadership:

(cost)

A

Lowest cost with acceptable quality
Leader: Protect position and increase market share
Challenger: Attack leader and gain market share

53
Q

Competitive Strategies

Differentiation

(Non-Cost)

A

Unique value beyond cost
Followers: Imitate leaders in specific segments

54
Q

Competitve Strategies

Niche

A

Highly specialized focus on a specific segment

55
Q

What is the Marketing Microenvironment?

A

External actors directly impacting company’s marketing decisions

56
Q

What is a Marketing Orientation?

A

What defines a company’s strategic marketing focus

57
Q

Marketing Orientation

Sales Orientation:

A

Focuses on maximizing sales and profitability

58
Q

Marketing Orientation

Competition Orientation:

A

Aims to imitate or outperform competitors

59
Q

Marketing Orientation

Customer Orientation:

A

Prioritizes delivering value and satisfying customer needs

60
Q

Production Orientation:

A

Focuses on efficient production and cost reduction

(not a marketing orientation)

61
Q

Product Orientation:

A

Emphasizes product quality and innovation

(not a marketing orientation)

62
Q

Marketing Orientation

Social Marketing/Responsability Orientation:

A

Considers ethical and social impact alongside customer satisfaction

63
Q

Marketing Mix (7Ps)

People:

(for Services)

A

Recognizing the crucial role of employees and customer service teams

64
Q

Marketing Mix (7Ps)

Processes:

(for Services)

A

Ensuring efficient and effective processes for a positive customer experience

65
Q

Marketing Mix (7Ps)

Physical Evidences:

(for Services)

A

Managing tangible elements that influence customer perception

LSDM (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions