Brainscape's Knowledge GenomeTM

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


See full index

Marketing Audit > Understanding marketing management > Flashcards

Understanding marketing management Flashcards

1
Q

What is marketing?

A

marketing is about identifying and meeting human and social needs at a profit

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

Which types of customer needs are there?

A 
Stated needs 
real needs 
unstated needs 
delight needs 
secret needs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Name the three transformative forces

A

Technology, globalization and social responsibility

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

What is the production philosophy

A

Proposes that consumers prefer products that are widely available and inexpensive

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

What is the product philosophy

A

Proposes that consumers favour products offering the most quality, performance, or innovative features.

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

What is the selling philosophy?

A

holds that consumers and businesses, if left alone, won’t buy enough of the organisations offerings.

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

What is the marketing philosophy?

A

A customer-centered sense-and-response philosophy. Hols that it is a total company effort to achieve customer satisfaction at a profit.

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

What is the holistic marketing philosophy?

A

An extension to the marketing philosophy

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

What is management?

A

a process that involves the major functions of planning, organising, leading and controlling resources in order to achieve goals.

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

What is a manager?

A

the people within an organisation charged with running the organisation on behalf of the owners

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

What are the main management styles?

A

democratic, autocratic and participative

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

What is marketing management?

A

a business discipline which achieves goals through the practical application of marketing techniques and the management of a firms marketing resources and activities

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

What is relationship marketing?

A

the practice of building long-term satisfying relations with key parties

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

name the entry strategies

A

the waterfall approach, the sprinkler approach,

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

What is the waterfall approach

A

gradually enteringcountries in sequence

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

What is the sprinkler approach?

A

Namely entering many countries simultaneously

17
Q

What is a standardised marketing mix?

A

Standardisation of all marketing mix activities

18
Q

What is an adapted/localised marketing mix?

A

The marketing mix activities are tailored to each target group

19
Q

What is a global strategy?

A

Standardisation of certain elements in the marketing mix and localisation of others

20
Q

What are the models of entry global?

A

indirect exporting, direct exporting, licensing, joint ventures and direct investment

21
Q

What is the value chain?

A

A tool for identifying ways to create more customer perceived value.

22
Q

What are the primary activities in the value chain?

A

inbound and outbound logistics, operations, marketing and sales, service

23
Q

What are the support activities in the value chain?

A

Firm infrastructure, human resource management, technology development, procurement

24
Q

What is digital marketing?

A

the management and execution of marketing using digital technology

25
Q

Why does firms make a value Chain?

A

Is used to see what parts of the value chain that creates more value being outsourced or owned by the company itself.

26
Q

What is linkages?

A

The relationship between the way one value activity is performed and the cost or performance of another. How do they influence each other. Often between primary and support activities.

27
Q

What is vertical linkages?

A

Linkages doesn’t only exist in a firm’s value chain, but also between a firm’s chain and the value chains of suppliers and channels. The way supplier or channel activities are performed affects the cost of performance of a firm’s activities

28
Q

What is a buyers value chain?

A

A value chain of the household. It is difficult to construct a value chain that include everything, but it is possible to construct a chain for those activities that are relevant to the firm’s product.

29
Q

Name the four competitive scopes

A

Segment Scope, vertical scope, geographic scope and Industry Scope.

30
Q

Explain the Boston Model

A

Question mark, Stars, Cash Cows and Dogs.

31
Q

Ansoffs product - market expansion grid

A

Market penetration strategy(current markets, current products)
Market development strategy(Current products, new markets)
Product development strategy(New products, current markets)
Diversification strategy(new product, new markets)

32
Q

What does the strengths and weaknesses in the SWOT show?

A

What is helpfull to achieving the goal

What is harmfull to achieving the goal

33
Q

Porters generic strategies

A

Overall Cost leadership
Differentiation
Focus (market focus)

Marketing Audit (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions