Process for creating, communicating, delivering, and exchanging offerings that have value for customers.
What is MARKETING
100
The idea social & economic justification for an organization's existence is the satisfactions of customer wants and needs.
What is Marketing Concept
100
A strategy that focuses on keeping and improving relationships with current customers.
What is Relationship Marketing
100
An advantage that cannot be copied by the competition
What is Sustainable Competitive Advantage
100
Product, Place, Promotion, and price, which together make up the marketing mix.
What is Four P's
200
Giving up something to receive something
What is Exchange
200
Idea that an organization not only exists to satisfy customer wants and need and to meet organizational objectives.
What is Societal Marketing Orientation
200
Delegation of authority to solve customer's problems quickly
What is Delegation
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.
What is Marketing Strategy
200
A business unit that is a fast-growing market leader
What is Star
300
Philosophy that focuses on the internal capabilities of the firm rather than the desire and needs of the marketplace.
What is Production Orientation
300
The relationship between benefits and the sacrifice necessary to obtain benefits.
What is Customer Value
300
Collaborative efforts of people to accomplish common objectives
What is Teamwork
300
A written document that acts as a guidebook of marketing activities for the marketing manager.
What is Marketing Plan
300
A business unit that shows rapid growth but poor profit margins.
What is Problem Child
400
Idea that people will buy more goods & services if aggressive sales techniques are used.
What is Sales Orientation
400
Customers' evaluation of a good or service in terms of whether it has met their needs and expectations.
What is Customer Satisfaction
400
A business unit that usually generates more cash than it needs to maintain its market share.
What is Cash Cow
400
Seeks to target and effectively serves a single segment of the market.
What is Niche Competitive Advantage
400
A marketing strategy that tries to increase the market share among existing customers.
What is Market Penetration
500
Philosophy that assumes a sale does not depend on an aggressive sales force, but rather on a customer's decision.
What is Market Orientation
500
Customer's evaluation of a good or service in terms of whether it has met their needs and expectations.
What is Customer's Satisfaction
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 unique blend of product, place,promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.