All energies involved in creating, communicating and delivering products and services to the many types of markets
What is marketing
100
Sales do not depend on an aggressive sales force but rather on a customer's decision to purchase a product. Synonymous with the marketing concept.
What is market orientation
100
Collaborative efforts of people to accomplish common objectives.
What is teamwork
100
a statement of what is to be accomplished through marketing activities
What is marketing objective
100
being the low-cost competitor in an industry while maintaining satisfactory profit margins.
What is cost competitive advantage
200
People giving up something to receive something they would rather have
What is exchange
200
The relationship between benefits and the sacrifice necessary to obtain those benefits
What is customer value
200
Delegation of authority to solve customer's problems quickly-usually by the first person that the customer notifies regarding a problem
What is empowerment
200
the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
What is marketing strategy
200
identifying internal strenghts (S) and weakness (W) and also examining external opportunities (O) and threats (T).
What is SWOT analysis
300
focusing on the internal capabilities of the firm rather than on the desires and needs of the marketplace
What is production orientation
300
An organization exists not only to satisfy customer wants and needs and to meet organizational objectives, but also, to preserve or enhance individuals and society's long-term best interests.
What is societal marketing orientation
300
A business unit that generates more cash than it needs to maintain its market share.
What is cash cow
300
product, place, promotion, and price, which together make up the marketing mix.
What is four Ps
300
the advantage achieved when a firm seeks to target and effectively serve a small segment of the market.
What is niche competitive advantage
400
The idea that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits
What is sales orientation
400
Customer's evaluation of a good or service in terms of whether it has met their needs and expectations
What is customer satisfaction
400
in the portfolio matrix, a business unit that shows rapid growth but poor profit margins.
What is problem child (question mark)
400
a market strategy that entails attracting new customers to existing products
What is market development
400
an advantage that cannot be copied by the competition.
What is sustainable competitive advantage
500
The social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives
What is Marketing concept
500
A strategy that focuses on keeping and improving relationships with current customers
What is relationship marketing
500
in the porfolio matrix, a business unit that has low growth potential and a small market share.
What is dog
500
the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition.
What is competitive advantage
500
a statement of the firms business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions