MARKETING FORCES
Global
Social
Economic
Product, Price, Place, Promotion
States of FELT deprivation are known as these.
NEEDS
What are the two characteristics of ethical standards which make them a challenge?
nearly universal
culturally based
Effective marketing strategy objectives have what 3 characteristics?
Specific
Measurable
Realistic
The data around a population's characteristics is known as what?
Demographic Data
What are the FOUR aspects of a S.W.O.T. analysis?
Strengths
Weaknesses
Opportunities
Threats
Value that is not "real" is known as what type of value?
Perceived value
An organization's obligation to maximize its positive impact and minimize its negative impact on society is known as what?
Corporate Social Responsibility
The strategy of focusing all operating principles, systems, and tools on improving customer satisfaction with a firm's products/services is known as what strategy?
Operational Excellence Strategy
The fall of the Berlin Wall and the opening of global markets is an example of what marketing force?
Socio-Political Forces
This individual is responsible for the short and long term marketing operations and strategies.
The Market Manager
The primary way that "value" is captured by the marketer is ______.
Price
What are the 3 pillars that make up the Triple Bottom Line approach to Corporate Social Responsibility?
People, Planet, and Profit
What are the FOUR growth strategies in marketing?
Market penetration
Product Development
Market Development
Diversification
In class we discussed many criticisms of marketing today - name as many as you can.
high prices, deceptive pricing, deceptive packaging, high pressure selling, shoddy products, planned obsolescence, marketing to kids, materialism
Marketing's role in business can be described as what?
understand the organization’s customers and markets in an effort to develop strategies to sell products or services that produce profit
Sustainable Competitive Advantage
The internal (or external) evaluation of a firm's Corporate Social Responsibility initiatives is known as a what?
Social Audit - often focuses on six areas
policy, activities, cause related marketing, social entrepreneurship, sustainability, and philanthropy
Strategies seeking NEW customers by offering NEW products that are unrelated to the existing product offerings by the organization is known as what growth strategy?
Diversification
Indirect Competition
What are the FOUR promotional elements used by marketers?
Advertising
Sales Promotion
Personal Selling
Public Relations
The strategy of "putting the customer at the center of all marketing activities" is known as what type of strategy?
Customer Excellence (Experience) Strategy
What is a B Corp?
A certified B Corporation is a type of for profit company that has been certified by the non-profit organization B Lab as meeting rigorous standards of social and environmental performance, accountability and transparency.
What is the Ansoff Growth Matrix?
Ansoff Growth Matrix is a simple and intuitive visualization of the choices management can implement when considering GROWTH opportunities