Marketing 360 Chapter 1

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Marketing 360 Chapter 1
2014-02-10 18:08:09

Covers Chapter 1
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  1. Marketing is...
    It is the activity and processes that are used for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partner and society at larges.
  2. What is the marketing process?
    • It is understand the environment
    • marketing strategy
    • marketing tactics
  3. What is crucial about understanding the environment?
    We need to know the consumer's needs and wants an important societal and competitive trends.
  4. What is a marketing strategy?
    How  can we  create value for whom?
  5. What is marketing tactics?
    It's how we should design are at campaign.
  6. What is the equation for value?
    It is what you get over what you give. So getting a lollipop in exchange for money
  7. What are the four P's
    • Product
    • place
    • promotion
    • price
  8. What is segmentation?
    It is focusing on groups that have similar needs and wants.
  9. What is the goal for many companies to do what with their customers?
    The goal is to build and manage long-term customer relationships (CRM)
  10. What is CRM?
    It is customer relationships
  11. Why is customer satisfaction important?
    It is the key to keeping customers.
  12. What are the four marketing management orientations?
    • Production,
    • sales,
    • market,
    • societal
  13. Production under the management orientation focuses on what?
    Internal capabilities of the firm, be as efficient as possible
  14. The sales under marketing orientation focuses on what
    Aggressive sales techniques, believe the higher sales result in high profits
  15. Market under the management orientations focuses on what?
    Satisfy customer needs and wants while meeting objectives.
  16. Societal under the marketing management orientation focuses on what?
    Satisfy customer needs and wants one has the individual and societal well-being.
  17. What is the focus of market orientation?
    Focusing on how the company can provide value to customers rather than what it can make
  18. What can be marketed?
    • Products,
    • services,
    • experiences,
    • people,
    • causes