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MGT
| Question | Answer |
|---|---|
| Physical goods | constitute the bulk of most countries production and marketing effort |
| nonexistent demand | comsumers may be unaware of or uninterested in the product |
| latent demand | consumers may share a strong need that cannot be satisfied by an existing product |
| full demand | consumers are adequately buying all products put into the marketplace |
| overfull demand | more consumers would lke to buy the product than can be satisfied |
| unwholesome demand | consumers may be attracted to products that have undesirable social consequences |
| decling demand | consumers begin to buy product less frequently or not at all |
| negative demand | customers dislike the product and may even pay to avoid it |
| irregular demand | consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis |
| segmentation | the idenification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes |
| holistic marketing | based on the development, design, and implimentation of marketing programs, processes, and activities that recognize their breadth and interdependencies |
| internal marketing (holistic) | motivates employees and insures that everyone in the organization embraces appropriate marketing principles, especially senior management |
| relationship marketing (holistic) | aims to build mutually satisfiing long term relationships with key constituents in order to earn and retain their business |
| integrated marketing (holistic) | occurs when the marketer devises marketing activities and assembles marketing programs to create, communicate, and deliver value to comsumers such that the whole is greater than the sum of its parts |
| performance marketing (holistic) | requires understanding the financial and non-financial returns to business and society from marketing activities and programs |
| segmentation, targeting, position | value delivery process can be divided into three phases, out of which "choosing the value" implies ____________, which is the essence of stragic marketing |
| holistic marketers achieve profitable growth by | expanding customer share, building customer loyalty, capturing customer lifetime value |
| operates at strategic and tactical levels | the marketing plan (the central instrument for directing and coordinating the marketing effort) |
| mission statement provides | provides employees with a shared sence of purpose, direction, and opportunity |
| While viewing businesses in terms of customer needs can sugest additional growth opportunities, a ____________ tends to focus on selling a product or service to a current market | target market definition |
| A charactieristic of a _______ is that it can be a single business or collection of relation business that can be planned seperatly from the rest of the company | strategic business unit |
| which you strategy would you most likely explore firstbecause its easier to improve an existing business than to build a new one | market penetration |
| the first step in the business unit strategic planning process deals with _________ | define business mission |
| Marketing Information system | consists of people, equiptment, and procedures to gather, sort, analysis, evaluate and distribute needed, timely, and accurate information to makreting decision makers |
| Marketing intelligence system | a set of procedures and sources that manager use to obtain everyday information about developments in the marketing environment. |
| fad | an unpredictable short lived an without social economic and political signifigance |
| trend | more predictable and durable than a fad, revel the shape of the future and can provide strategic direction |
| megatrend | large social, economic, political, and technological change that is slow to form, and once in place, influences us for some time (7-10 years or longer) |
| demographic environment | age, population growth, ethnic and other markets, education groups, household patters |
| economic environment | consumer pyschology, income distribution (income, savings, debt, credit) |
| technological environment | businesses must keep up with technological advances in order to stay competitve |
| forcasting and demand measurement | after marketing data has been obtained through marketing research the company must identify marketing opportunities |
| available market | consumers who have interest, income, and access to a particular offer |
| target market | part of the available market the company decides to pursue |
| penetrated market | consumers who are buying the companies products |
| look at bottom of chapter 3 packet | |
| check chp 4 notes |
Created by:
dehric