Term
|
Definition
| A summary, playback, verbal and/or written, on the nature of the problem and its probable causes, plus request for agreement |
|
|
Term
| Marketing Deffinition changed in ____ and it emphasized ___ and ___ |
|
Definition
|
|
Term
|
Definition
Transactual Marketing- Large number of products
Realationship Marketing- Based on Long Term Realationships |
|
|
Term
|
Definition
Feature: something intreging about your product
Benefit: What feature does for Buyer
GPS Ex.
Feature: GPS
Benefit: Help guide you places |
|
|
Term
|
Definition
Product
Price
Place
Promotion |
|
|
Term
| Marketing Plan Deffinition |
|
Definition
A written document that providesf a BLUE PRINT or outline of an organizations marketing activities including:
-implementation
-evaluation
-control over these activities |
|
|
Term
|
Definition
1.Executive Summary
2.Situation Analysis
3.SWOT Analysis
4.Marketing Strategy
-Segmentation/Target Market
-Poisitioning
5.Marketing Mix (4P's)
6.Market Implementation
7.Evaluating Control |
|
|
Term
| Most important about Executive summary |
|
Definition
| Convince the reader that you have a compelling opportunity |
|
|
Term
| Purpose of Situation Analysis |
|
Definition
used to describe current and future issues and key trends as they affect 3 enviornments:
1. Internal Environment
2. Customer Environment
3. External Environment |
|
|
Term
|
Definition
Secondary: Data already been collected
Primary: Customized for company (made data) |
|
|
Term
|
Definition
1. Awareness- Are potential customers aware of your product? those of your competitors?
2. Attributes- Why purchase Product? Which Features/Benefits matter? Strength and weakness of product compared to competition |
|
|
Term
| Buyer behavior in Buisness |
|
Definition
1. Economic Buyer
2. Technical Buyer
3. User
(ALL GROUPS RESPONSIBLE FOR PURCHASE) |
|
|
Term
| Hard Cost + Soft Cost - Soft Cost = |
|
Definition
| monetary price + Shipping and instillation |
|
|
Term
| Counselor Selling Communicating percentages |
|
Definition
55% body language
38% tone of voice
7% actual words |
|
|
Term
| 2 Biggest strategic decisions that Marketers make are: |
|
Definition
1. Selecting a Target Market
2. Creating a Positioning Strategy |
|
|
Term
Consumer segmentation strategies
1 important one |
|
Definition
|
|
Term
|
Definition
| Purchasing habits based upon the number of years as a customer |
|
|
Term
| Will we be ignoring customers? |
|
Definition
YES
-Communicating 1 message is hard enough |
|
|
Term
| Positioning does what? and should? |
|
Definition
Differentiates your product WITHIN your target Market
-Stay constant |
|
|
Term
|
Definition
| basis for all communication goals |
|
|
Term
| We are at our most persuasive when... |
|
Definition
| we help others persuade themselves |
|
|
Term
Why people buy?
Our job is to... |
|
Definition
| help people dicover needs that are important to them in which either NOT SATISFIED or IN DANGER OF future disatisfaction |
|
|
Term
| Most important decisions when putting together Marketing Plan: |
|
Definition
-Design
-Development
-Positioning |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Total set of all products offered by a firm |
|
|
Term
|
Definition
1. Full line (wide range of options)
2. Limited line (small options)
3. Extending the line (core products -->Growth)
4. Contract the line ( making line smaller) |
|
|
Term
| Ways to evaluate progress toward marketing goals. must establish? |
|
Definition
-Sales
-Profits
-Research
-Operational efficiencies |
|
|
Term
| Internal Enviornment applies to |
|
Definition
| Your business and mostly existing businesses |
|
|
Term
| 5 W's when analyzing Customer Enviornment |
|
Definition
|
|
Term
| 5 areas to analyze in external Enviornment |
|
Definition
-Industry
-Competition
-Economy
-Legal/Regulatory
-Trends |
|
|
Term
| Steps of consumer buying process |
|
Definition
-Need recognition
-Information search
-Evaluation of alternative
-Purchase decision
-Post Purchase Evaluation |
|
|
Term
| 4 possible outcomes of purchase evaluation |
|
Definition
1. Delight
2. Satisfaction
3. Dissatisfaction
4. Cognitive Dissonance |
|
|
