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marekting chapter 2
| Question | Answer |
|---|---|
| profit | is the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes is marketing its offering. |
| nonprofit | help people in emergencies. ex. Red Cross |
| government agencies | people really like to get government contracts because they pay on time and they have long contracts |
| strategy | is an organizations long-term course of action designed to deliver a unique customer experience while achieving its goals |
| organization purpose | describes why an organization exits, what problems it wishes to solve, and who it wants to be to every person its touches through its work |
| core values | are the fundamental, passionate, and enduring principles of an organization that guides its conduct over time. |
| mission | is a statement of the organization function in society that often identifies its customers, markets, products, and technologies, the term is often used interchangeably with vision |
| organizational culture | consists of the set values, ideas attitudes, and normative of behavior that is learned and shared among the members of an organization |
| business | describes the clear, broad, underlying industry, or market sectors of an organizations offering |
| goals and objectives | are the statements of accomplishments of a task to be achieved, often by a specific time |
| marketing plan | is a road map for the marketing actions of an organization for a specifies future time period, such as one year or five years |
| marketing metric | is a measure of the quantitative value or trend of marketing actions or results |
| strategic marketing process | is an approach whereby an organization allocates its marketing mic resources to reach its target market |
| situation analysis | includes talking stock of where the firm of products has been recently where it is now, and where it is headed in terms of the organizations marketing plans and the external forces and trends affecting it. |
| SWOT analysis | internal Strengths and Weaknesses and its external Opportunities and Threats |
| marketing strategy | is the means by which a marketing goal is to be achieved, usually characterized by a specified target maker and marketing and marketing program to reach it. |
| marketing tactics | are the detailed, day-to, day operational marketing actions for each element of the marketing mix that contributes to the overall success of amercing strategies |