It involves a variety of functions, a marketer's role can include managing aspects of brand, customers, product promotion, communications, & technology. Marketing creates value for brands, & brands ultimately create a value exchange with their customers.

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.

What is marketing management?

Marketing management is planning, executing, and managing a variety of functions to deliver value to the customer and the organization.

Where a company sells it products (for example, through a website, retail store, or sales representative).

Group of customers by specific characteristics or criteria.

Market Segmentation Variables (categories)

1. demographics 2. psychographics 3. geographic 4. behavioristic

What is the first role in the marketing career trajectory?

Marketing Coordinator: Entry level, help managers with marketing tasks.

What is the second role in the marketing career trajectory?

Marketing Manager: 3-4 years experience, manage projects and products versus people.

What is the third role in the marketing career trajectory?

Marketing Director: 7-10 years experience, have direct reports, responsibility for people and products marketed in their department.

What is the fourth role in the marketing career trajectory?

Vice President: 11-15 years experience, responsible for all roles within marketing department, works with other departments to help define and meet company goals and objectives. Need leadership, technical, and overall business skills.

What is the last role fifth in the marketing career trajectory?

Chief Marketing Officer: 20+ years experience, high level planning and development, while managing overall marketing efforts. Reports to CEO, typically responsible for ROI of marketing.

Marketing Strategy vs Execution

Marketing Strategy: Determining what to do (the plan); typically associated with the target market and marketing mix. Marketing execution: The "doing" of marketing (the tactics).

People who haven't bought yet, but are good candidates for becoming a customer.

Marketing Mix (4 P's of marketing)

Price, Place, Promotion, Product. These are parameters the marketer controls to best appeal to the target market.

Expanded Marketing Mix (7 P's of marketing)

Product, price, place (distribution), promotion, people, physical evidence, process.

What is a value proposition?

The set of benefits or values a company promises to deliver to consumers to satisfy their needs.

A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Disagreements among marketing channel members on goals, roles, and rewards - who should do what and for what rewards.

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D373 Terms

Marketing in the Digital Era Section #1 Lesson #1

Term	Definition
What is Marketing?	It involves a variety of functions, a marketer's role can include managing aspects of brand, customers, product promotion, communications, & technology. Marketing creates value for brands, & brands ultimately create a value exchange with their customers.
Marketing Concept	The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
What is marketing management?	Marketing management is planning, executing, and managing a variety of functions to deliver value to the customer and the organization.
Channel	Where a company sells it products (for example, through a website, retail store, or sales representative).
Market Segments	Group of customers by specific characteristics or criteria.
Market Segmentation Variables (categories)	1. demographics 2. psychographics 3. geographic 4. behavioristic
What is the first role in the marketing career trajectory?	Marketing Coordinator: Entry level, help managers with marketing tasks.
What is the second role in the marketing career trajectory?	Marketing Manager: 3-4 years experience, manage projects and products versus people.
What is the third role in the marketing career trajectory?	Marketing Director: 7-10 years experience, have direct reports, responsibility for people and products marketed in their department.
What is the fourth role in the marketing career trajectory?	Vice President: 11-15 years experience, responsible for all roles within marketing department, works with other departments to help define and meet company goals and objectives. Need leadership, technical, and overall business skills.
What is the last role fifth in the marketing career trajectory?	Chief Marketing Officer: 20+ years experience, high level planning and development, while managing overall marketing efforts. Reports to CEO, typically responsible for ROI of marketing.
Marketing Strategy vs Execution	Marketing Strategy: Determining what to do (the plan); typically associated with the target market and marketing mix. Marketing execution: The "doing" of marketing (the tactics).
Prospect	People who haven't bought yet, but are good candidates for becoming a customer.
Marketing Mix (4 P's of marketing)	Price, Place, Promotion, Product. These are parameters the marketer controls to best appeal to the target market.
Expanded Marketing Mix (7 P's of marketing)	Product, price, place (distribution), promotion, people, physical evidence, process.
What is a value proposition?	The set of benefits or values a company promises to deliver to consumers to satisfy their needs.
Target Market	A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.
Channel Conflict	Disagreements among marketing channel members on goals, roles, and rewards - who should do what and for what rewards.

Created by: crazy08

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