Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Marketing Chp.1

Vocab

TermDefinition
Marketing the activity, set of instructions, and processes for CREATING, COMMUNICATING, DELIVERING and exchanging offerings that have value for customers, clients, partners, and society at large.
Exchange the TRADE of things of value between a buyer and a seller so that each is better off after the trade.
market PEOPLE with both the desire and the ability to buy a specific offering.
target market consists of one or more SPECIFIC groups of POTENTIAL CONSUMERS toward which an organization directs its marketing program.
marketing mix consists of the controllable factors—product, price, promotion, and place—that can be used by the marketing manager to solve a marketing problem.
Environmental forces the UNCONTROLLABLE FORCES that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces.
Customer value the unique combination of BENIFITS received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
Relationship marketing LINKS the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
marketing program is a plan that INTEGRATES the MARKETING MIX to provide a good, service, or idea to prospective buyers.
Market segments the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action.
marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.
Market orientation when an organization focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value.
Customer relationship management (CRM) process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace and become advocates after their purchase.
Customer experience the internal response that customers have to all aspects of an organization and its offering.
Societal marketing concept the view that organizations should SATISFY THE NEEDS of consumers in a way that provides for society’s well-being.
product a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value.
Ultimate consumers the people who USE the products and services purchased for a household. Also called consumers, buyers, or customers.
Organizational buyers those manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy products and services for their OWN USE OR FOR RESALE.
Utility the benefits or customer value received by users of the product.
Created by: Rick Dawson
Popular Marketing sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards