Ch 1 Marketing Word Scramble
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Question | Answer |
Marketing | Its the activity of creating, providing, and delivering offerings at large to customers and creating relationships to benefit the organization |
Marketing Concept | the act of satisfying customers want and needs while meeting organizational objectives |
Value | something your willing to exchange something for. Money in exchange for an object |
Marketing Plan | specifies market activities over a span of time. |
Market Place | how consumers are organized |
Exchange | trade of things of value between buyer and seller |
Product | good and services CREATING VALUE |
Price | everything the buyer gives up CAPTURING VALUE |
Place | getting product to customer (DELIVERING VALUE) |
Promotion | aiming at specific groups to remind buyers about a product (COMMUNICATING VALUE)` |
B2C | business to consumer |
B2B | business to business |
C2C | consumer to consumer |
Employment Marketing | fulfilling brand image through employees |
Production oriented Era | belief a good product will sell its self (henry ford) |
Market Oriented era | focuses on what consumers wanted |
Value Based Marketing ear | manufactures wanting to give greater value to customers |
Value | relationship between cost of you get what you spend for |
Value Co-creation | customers act as collaborators (custom nikes) |
Transactional Orientation | neither party expects to see the other again (buying a car) |
Relational Orientation | encourage customers to buy again or make products compatible with what they already have |
Customer Relationship Management | recording customer past to create new ways to suit their needs (hannaford coupons) |
Supply Chain | raw material- manufacturing-retailer-consumer |
Entrepreneurs | they organize, operate, and assume risk of new business |
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