Marketing Definitions
Consumer Oriented
The Marketing Environment
Consumer Analysis
Branding
100
An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization.
What is marketing?
100
A person or business that could possibly be interested in purchasing your product or services.
What is a consumer (or customer)?
100
It is unpredictable, short-lived, and without social, economic, and political significance.
What is a fad?
100
A descriptive thought that a person holds about something.
What is a belief?
100
A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
What is a brand?
200
A concept based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies. This includes internal marketing, performance marketing, integrated marketing, and relationship marketing.
What is a holistic marketing?
200
The difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
What is customer perceived value (CPV)?
200
A direction or sequence of events that has some momentum and durability.
What is a trend?
200
A person’s enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object of idea.
What are attitudes?
200
The act of designing the company’s offering and image to occupy a distinctive place in the minds of the target market.
What is positioning?
300
Creating a business mission, doing a SWOT analysis, goal formulation, strategy formulation, program formulation, implementation, and feedback and control.
What is strategic planning?
300
The perceived monetary value of the bundle of economic, function, and psychological benefits customers expect from a given market offering because of the products, services, personnel, and image involved.
What is total customer value?
300
The art of anticipating what buyers are likely to do under a given set of conditions.
What is forecasting?
300
Problem recognition, information search, evaluation of alternatives, purchase decision, post-purchase behavior.
What are the five stages of the consumer buying process?
300
The attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they couldn’t find to the same extent with a competitive brand.
What are points-of-difference (PODs)?
400
It is a written document that summarizes what the marketer has learned about the marketplace, what objectives are to be achieved through marketing, and how.
What is a marketing plan?
400
This describes the net present value of the stream of future profits expected over the customer’s lifetime purchases.
What is customer lifetime value (CLV)?
400
The total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
What is market demand?
400
These consist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, etc. that become linked to the brand node.
What are brand associations?
400
The associations that aren’t necessarily unique to the brand but may in fact be share with other brands.
What are points-of-parity (POPs)?
500
The market sensing process, the new offering realization process, the customer acquisition process, the customer relationship management process, the fulfillment process.
What are the five core business processes?
500
The process of carefully managing detailed information about individual customers and all customer “touch points” to maximize customer loyalty.
What is customer relationship management (CRM)?
500
It consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers, which relies on internal company records, marketing intelligence, and marketing research.
What is a marketing information system (MIS)?
500
The process by which we select, organize, and interpret information inputs to create a meaningful picture of the world.
What is perception?
500
Threat of intense segment rivalry, threat of new entrants, threat of substitute products, threat of buyers’ growing bargaining power, threat of suppliers’ growing bargaining power.
What are Michael Porter’s five forces?
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