MIDTERM PART II Flashcards
give the steps in strategic marketing process
- mission identification
- situation analysis
- objective setting
- marketing strategy development
- strategy evaluation and control
Marketing may be the “lifeblood” of an organization, but it cannot exist independently of other organizational functions.
company
provide raw materials, utilities, labor, capital, and equipment.
suppliers
channels that link the organization to its customers.
market intermediaries
create the demand for products and services
customers
demand for a company’s product and services is affected by the nature and intensity of competition.
competition
may include any individual or entity with an actual or potential interest in the company and its products and services.
publics
includes factors that are external to the organization. They can affect a company’s operational viability
marketing macroenvironment
represents economic factors that can directly affect an organization.
economic macroenvironment
includes both political and legal factors.
politicolegal environment
Each geographical area has a specific culture that dictates how business is conducted
sociocultural environment
demographic macroenvironment consists of changes in population characteristics.
demographic macroenvrionment
composed of current and impending technological change.
technological macroenvironment
refers to natural resource inputs and environmental concerns.
natural macroenvironment
function responsible for acquiring and evaluating market and consumer-based information for decision making and the determination of marketing strategic direction.
marketing research
Include individuals and/or households who purchase products and services for personal consumption.
consumer market
consumer buying process
STEP 1: PROBLEM NEED RECOGNITION
STEP 2: INFORMATION SEARCH
STEP 3: ALTERNATIVES EVALUATIO
STEP 4: PURCHASE DECISION
STE[P 5: POST PURCHASE BEHAVIOR
Individuals and companies who purchase goods and services for some use other than personal consumption.
organizational markets
business organizations that purchase goods and services for the purpose of producing other products and services or for use in their production and operating processes.
industries
entities that buy goods and services in order to resell them at a profit (most commonly distributors, wholesalers, and retailers).
resellers
Comprise of agencies or government units at all levels that purchase goods and services for the purpose of producing public services or to transfer them to third parties that need them.
government
purchase of products or services that the organization has never bought before, or has not purchased for a long period of time.
new task
organizational purchases which have exactly the same specifications as previously purchased. For most companies, a straight rebuy situation requires no additional evaluation,
straight rebuy
organization is eager to purchase the same products but make changes in packaging, delivery time, or the quantity of products they offer. When companies aren’t satisfied with the previous products as an alternative, they can consider placing an order with a new supplier.
MODIFIED REBUY
initiate the organizational buying process after having identified a specific need in their department. Because they will be the ultimate user of the product, they usually indicate needed specifications for the supply requirement.
users
individuals within the organization that influence the purchase decision; their inputs are especially important in specification refinement and in alternative supplier evaluation
influencers
empowered to make the purchase decision with regards to product specifications or selection of suppliers.
decider
responsible for the actual purchase; other than making the actual purchase, buyers may be allowed to negotiate payment and/or credit terms, delivery arrangements, and in some cases, even supplier selection.
buyer
individuals whose positions allow them to screen and/or prevent supplier representatives and vital product/service information from reaching participants who perform roles in the organizational buying decision
gatekeeper
the process of of dividing a market homogeneous parts or groups
market segmentation
Divides the market by region, cities, urban and rural areas
geographic
Refers to the general characteristics of the population
demographic
are variables that represent the psychological profile of consumers.
psychographic
the segmentation variables most indicative of purchase behavior.
BEHAVIOGRAPHIC
