MatO's Marketing 101 Ch 02

• The process of 
• 1) Planning marketing activities
• 2) Directing the implementation of the plans
• 3) Controlling these plans

The managerial process of developing and maintaining a match between an organization's resources and its market opportunities

Specifies a target market and a related marketing mix

A fairly homogeneous (similar) group of customers to whom a company wishes to appeal

The controllable variables that the company puts together to satisfy a target group

A marketing mix is tailored to fit some specific target customers

The typical production-oriented approach that vaguely aims at everyone with the same marketing mix

Any series of firms or individuals who participate in the flow of products from producer to final user or consumer

Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone or even via a video conference over the internet

A personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase - is often the key to building repeat business

Communicating with large numbers of potential customers at the same time

Any paid form of non-personal presentation of ideas, goods, or services by an identified sponsor

Any unpaid form of non-personal presentation of ideas, goods, or services

Those promotion activities - other than advertising, publicity, and personal selling - that stimulate interest, trial, or purchase by final customers or others in the channel

A written statement of a marketing strategy and the time-related details for carrying out the strategy

Putting marketing plans into operation

Short-run decisions to help implement strategies

Blends all of the firm's marketing plans into one big plan

The expected earnings stream (profitability) of a firm's current and prospective customers over some period of time

Opportunities that help innovators develop hard-to-copy marketing strategies that will be very profitable for a long time

A firm has a marketing mix that the target market sees as better than a competitor's mix

Identifies and lists the firm's strengths and weaknesses and its opportunities and threats

• Strengths
• Weaknesses
• Opportunities
• Threats

The marketing mix is distinct from and better than what is available from a competitor

Trying to increase sales of a firm's present products in its present markets - probably through a more aggressive marketing mix

Trying to increase sales by selling present products in new markets

Offering new or improved products for present markets

Moving into totally different lines of business - perhaps entirely unfamiliar products, markets, or even levels in the product - marketing system