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Marketing Concepts
Marketing Capstone/ Mid-term/ concepts
21
Marketing
Undergraduate 4
06/22/2015

Additional Marketing Flashcards

 


 

Cards

Term
Marketing Concept
Definition

Cosutomer Focus

 

Profit Orientation

 

Organization Intergration

Term
5 Analytical Processes of: Strategic Merketing Managment
Definition

Strategy

Planning

Implementation

Evaluation 

Term
Product-Market Stategies
Definition

mkt.Penetration

 

mkt.Development

 

New Offering Development

 

Diversification

Term
Marketing Mix
Definition

4 P's

 

Promotion

 

Product

 

Price

 

Place

 

 

Term
sizable
Definition
large enought to be profitable
Term
sustainable
Definition

viable market in the future 

 

it will last

Term
homogeneouse
Definition
segments share common traits
Term
accessible
Definition
can reach market with messgae
Term
responsive
Definition
segment reponds in predictable manner to a unique marketing mix
Term
*Merketing Cummunication Mix
Definition

Adverstising

Personal selling

sales promotion

PR

word of mouth

Term
Goal of Cummunication
Definition
  1. Induce initial sales - cummunicaton aids movement through adoption process= unawarness-awareness-knowledge-preference-purchase
  2. post-purchace satisfactions
Term
Elements of Cummunication Mix are influenced by:
Definition
  1. buyer information requrements 
  2. nature of offering- ( complexity, frequency of purchase,cost, benifits,differentiation)
  3. target market characteristics
  4. organization capacity
Term
Pull Strategy
Definition
creates initial interest (pull product through channels)
Term
push strategy
Definition
  1. offering is complex
  2. purchase is risky
  3. early in life cycle
  4. long sales interval
  5. limited fuds for mass advertisint 
Term
Channel Selection Criteria
Definition
  1. Desired Coverage (desity types- intesive, exlusice, selective)
  2. Satisfy Buyer REquirments 
  3. Maximize Revenue/Minimize cost

 

Term
Use Direct Channels if..
Definition
  1. limited number of buyres
  2. buyers easliy identified
  3. geographically concentrated
  4. product is comlex
  5. firm has a wide variety of products
  6. firm has suffencient resources
  7. inderict intermediaries are not available/skilled
  8. need to control channel activites 
Term
channel conflict
Definition

one member is engged in behavior that is prventing another from achieving goals

(clash of goals or methods among the members)

Term
8 different sources of channel conflict
Definition
  1. channel member bypasses another channel member ans sells or buys direct
  2. Distribution of Profit Margins 
  3. channel not giving the product adequate attention 
  4. competitors allowed to carry only select items rather than full product line
  5. Goal incompatability ( focusing the profit of the distributor and not the manufactures market share)
  6. Role incongruence (mcdonalds selling hot dogs)
  7. communication breakdowns (manufactuere changes maket mix with not notification )
  8. ideological differences ( retailer belives customer is alwasy right and lets return and manufature things they are trying without buying)
Term
Private Branding
Definition
when a large distribution channel member buys from manufacture in bulk and puts its own name on the product.
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