You sit on a throne of lies!
The marketing mix is built around this core component
Customer
What is Marketing
Solves problems and creates value for exchanges
Advertising, personal selling, sales promotion, and public relations are called
promotion mix
What are the 6 environment forces that companies face?
Sociocultural, Demographic, Global/Political, Economic, Legal/regulatory, Competitive , and Technological
All organization share these 3 characteristics
Goals People & structure
What are the 4 Ps in the marketing mix?
Price, Promotion, Place and Product
This is a specific group of customers on whom an organization focuses its marketing efforts.
A target market
This allows an organization to coordinate and manage its promotional efforts to transmit consistent messages to its current and potential customers..
Integrated marketing communications
At this point....the money a company brings in from selling products equals the amount spent producing the products.
Breakeven
This is a written document detailing activities to be performed to implement and control marketing actions.
marketing plan
This policy a firm promotes primarily to the next marketing institution down the marketing channel.
push policy
This key term consists of transactions in which the buyer intends to consume the product through personal, family, or household use.
Retailing
Why are marketers interested in consumers' levels of disposable income?
ready source of buying power.
oligopolies, monopolies, monopolistic competition, and pure competition.
Competitive Structures
Which factor is least likely to affect pricing decisions?
Competitive prices
Legal and regulatory issues
Organizational and marketing objectives
Shifting stock values
Shifting stock values
The width of a product mix is measured by the number of product _____ a company offers
Lines
This purpose divides a total market to enable a marketer to develop a more precise marketing mix.
market segmentation
Advertising that aims to create a more favorable view of a company as a whole in the eyes of various stakeholders is called ____ advertising.
institutional
This includes one's evaluation, feelings, and behavioral tendencies toward an object or idea.
Attitude
The three major categories of influences on the consumer buying decision process are
situational influences, social influences, and psychological influences.
The strength of a person's "buying power" depends on economic conditions and this key component
size of resources that can be traded in an exchange.
This is made possible by purchasing the operations of a channel member.
Vertical channel integration
This key term focus on getting wholesalers and retailers to carry the product and/or to market it more aggressively. Not to be confused with consumer sales...
trade sales
What are the three primary ways that marketers deliver services?
Service facilities, customer's home, or from a distance
The depth of a product mix is measured by the average number of this
different products offered in each product line.