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Marketing chs 1-4

Chapters 1-4 of Marketing

QuestionAnswer
Person Marketing Deigned to grab the attention and find the target market of a person
Place Marketing Attract visitors to a spicific place; improve consumer images of a city, state, or nation; and attract new business
Cause Marketing identifying the marketing of a social issue, case, or idea to selected target markets
Event Marketing Marketing of sporting cultural, and charitable activities to selected targe markets
Organizational marketing Marketing efforts of mutual-benifit, service, and government organizations that seek to influence other to accept theiry goals, receive their services, or contribute to them in some way
Interactive Marketing Marketing effots of mutual-benefit, service, and government organizations that seek to influence others to accept their goals receive their services, or contribute to them in some way
Buying function making sure the stock is staying full
Selling function using promotions to grab the attention of the customers
Transporting Function Moving the product from the warehouse to the store
Storing Function Keeping product in Warhhouse until the product is ready to be sold
Standardizing and Granding Function Making sure that the product fits the definition and quality is efficient
Financing funcion Providing credit for (wholesalers and retailers)and consumers
Risk Taking Dealing with the risk of customers buuying the product or not
Securing Marketing Information Colecting information aout consumers, competitors, and channel members for use in making marketing decisions
5 major types of nontraditional marketing PersonPlaceCauseEventOrganzation
Social responsibility involve marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society
SWOT Strengths, Weaknesses, Opportunities, Threats
strategic window a limited tme where the key requirements of the market and the paricular competenciesof a firm best fit together
Porter's Five Forces Model Potential New EntrantsBargaining power of buyersBargaining power of suppliersThreat of substitue products
strategic planning Finding primary objectives for the company and coming up with ways to acheive the objectives
Tactical planning Planning that guides the implementaton of activites that are mentioned int eh strategic plan
Target Market The people that you think wil buy your product
Product strategy involves more than just deciding what goos or services the firm should offer to a group of consumers
Marketing Mix Product strategyDistribution StrategyPromotion StrategyPricing Strategy
Product Strategy what can we do to have aour product appealed by the customer
Distribution Strategy to ensure tht consumers find their products in the proper quantities at he right times and places
Promotion Strategy the communcations link between sellers and buyers; integrated marketing communications (IMC)
Pricing Strategy finding the perfect price that will appeal to the customer
Stars Generate considerable incomeStrategy: invest more funds for future growth
Cash Cows Generate Strong Cash FlowStrategy: Milk profits to finance growth of stars and question marks
Question Marks Have potential to become stars or cash cowsStrategy: either invest more funds for growth or consider disinvesting
Dogs Generate little profitsStrategy: consider withdrawing
Social-cultural environment Compnent of the marketing environment consisting of the relationship betwee the marketer, society, and culture
Planned obsolescence cheaply made products
Created by: playingnotes4him
Popular Marketing sets

 

 



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