Terms in this set (257)
leading and managing the facets of marketing to improve individual, u
Marketing Management
and organizational performance
the activity, set of institutions, and processes for creating, communicati
Marketing delivering, and exchanging offerings that have value for customers, cli
partners, and society at large
any person or entity inside or outside a firm with whom marketing inter
Marketing Stakeholders
impacts, and is impacted by
Societal marketing members of society at large can be viewed as stakeholders for market
business practices that meet humanity's needs without harming future
Sustainability
generations
ratio of the bundle of benefits a customer receives from an offering
Value compared to the costs incurred by the customer in acquiring that bund
benefits
a person gives up something of value to them for something else they
Exchange
desire to have
, improving products and production efficiency without much regard fo
Production orientation
what's going on in the marketplace
to increase sales and production capacity utilization, professional
Sales orientation salespeople need to "push" product into the hands of customers, both
businesses, and end users
businesswide philosophy that emphasizes an organization-wide custom
Marketing Concept orientation with the objective of achieving long-run profits (let the mar
decide what products to offer) - from GE's 1952 Annual Report
the fundamental elements that comprise the marketer's toolkit that can
The Marketing Mix / 4 P's of Marketing developed in unique combinations to set the product or brand apart fr
the competition (product, price, place, promotion)
what clearly distinguishes your products from those of competitors in t
Differentiation Orientation
minds of customers
Market Orientation the implementation of the marketing concept
Customer Orientation placing the customer at the core of all aspects of the enterprise
it is far more efficient and effective to invest in keeping and cultivating
Relationship Orientation profitable current customers instead of constantly having to invest in
gaining new customers that come with unknown return on investment
, firms should direct energy and resources into establishing a learning
relationship with each customer and then connect that knowledge with
One-to-One Marketing
firm's production and service capabilities to fulfill that customer's need
as custom a manner as possible
combining flexible manufacturing with flexible marketing to greatly
Mass customization
enhance customer choices
dimension of marketing that focuses on external forces that affect the
Marketing (Big M)
organization and serves as the driver of business strategy
a long-term, firm-level commitment to investing in marketing - support
Strategic marketing at the highest organizational level - for the purpose of enhancing
organizational performance
approaches that drive the market toward fulfilling a whole new set of n
Market creation
that customers did not realize was possible or feasible before
dimension of marketing that focuses on the functional or operational le
marketing (little m)
of the organization
Marketing activities that take place at the functional or operational leve
tactical marketing
a firm
, designed to identify, track, evaluate, and provide key benchmarks for
Marketing metrics improvement just as various financial metrics guide the financial
management of the firm
no formal international channel relationship or global marketing strate
No Foreign Marketing
targeted at international customers
Foreign Marketing developing local distribution and service representation in a foreign m
when a firm makes the commitment to manufacture products outside it
International Marketing domestic market (although management still takes a "domestic first"
approach to the business)
realizing that all world markets (including own domestic) are a single
Global Marketing market with many different segments (management sees the world as a
unified market without boundaries)
Western Europe, US, and Japan fueled world economic growth for mu
Developed economies
20th century
where most of the significant growth has been found over the past 25
Emerging markets years; 75% of growth over the next 20 years is projected to come from
new group of powerful economies (China, India)
leading and managing the facets of marketing to improve individual, u
Marketing Management
and organizational performance
the activity, set of institutions, and processes for creating, communicati
Marketing delivering, and exchanging offerings that have value for customers, cli
partners, and society at large
any person or entity inside or outside a firm with whom marketing inter
Marketing Stakeholders
impacts, and is impacted by
Societal marketing members of society at large can be viewed as stakeholders for market
business practices that meet humanity's needs without harming future
Sustainability
generations
ratio of the bundle of benefits a customer receives from an offering
Value compared to the costs incurred by the customer in acquiring that bund
benefits
a person gives up something of value to them for something else they
Exchange
desire to have
, improving products and production efficiency without much regard fo
Production orientation
what's going on in the marketplace
to increase sales and production capacity utilization, professional
Sales orientation salespeople need to "push" product into the hands of customers, both
businesses, and end users
businesswide philosophy that emphasizes an organization-wide custom
Marketing Concept orientation with the objective of achieving long-run profits (let the mar
decide what products to offer) - from GE's 1952 Annual Report
the fundamental elements that comprise the marketer's toolkit that can
The Marketing Mix / 4 P's of Marketing developed in unique combinations to set the product or brand apart fr
the competition (product, price, place, promotion)
what clearly distinguishes your products from those of competitors in t
Differentiation Orientation
minds of customers
Market Orientation the implementation of the marketing concept
Customer Orientation placing the customer at the core of all aspects of the enterprise
it is far more efficient and effective to invest in keeping and cultivating
Relationship Orientation profitable current customers instead of constantly having to invest in
gaining new customers that come with unknown return on investment
, firms should direct energy and resources into establishing a learning
relationship with each customer and then connect that knowledge with
One-to-One Marketing
firm's production and service capabilities to fulfill that customer's need
as custom a manner as possible
combining flexible manufacturing with flexible marketing to greatly
Mass customization
enhance customer choices
dimension of marketing that focuses on external forces that affect the
Marketing (Big M)
organization and serves as the driver of business strategy
a long-term, firm-level commitment to investing in marketing - support
Strategic marketing at the highest organizational level - for the purpose of enhancing
organizational performance
approaches that drive the market toward fulfilling a whole new set of n
Market creation
that customers did not realize was possible or feasible before
dimension of marketing that focuses on the functional or operational le
marketing (little m)
of the organization
Marketing activities that take place at the functional or operational leve
tactical marketing
a firm
, designed to identify, track, evaluate, and provide key benchmarks for
Marketing metrics improvement just as various financial metrics guide the financial
management of the firm
no formal international channel relationship or global marketing strate
No Foreign Marketing
targeted at international customers
Foreign Marketing developing local distribution and service representation in a foreign m
when a firm makes the commitment to manufacture products outside it
International Marketing domestic market (although management still takes a "domestic first"
approach to the business)
realizing that all world markets (including own domestic) are a single
Global Marketing market with many different segments (management sees the world as a
unified market without boundaries)
Western Europe, US, and Japan fueled world economic growth for mu
Developed economies
20th century
where most of the significant growth has been found over the past 25
Emerging markets years; 75% of growth over the next 20 years is projected to come from
new group of powerful economies (China, India)
