Marketing Concept
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philosophy in which achieving organizational goals depends on knowing
the needs and wants of target markets and delivering the desired
satisfactions better than the competitors do
Internal marketing
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orienting and motivating customer-contact and supporting service
employees to work as a team to provide customer satisfaction
,Institutional Markets
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schools, hospitals, prisons and others that provide goods and services to
people in their care
o Low budgets
o Captive patrons
Cultural Environment
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institutions and other forces that affect society's basic values, perceptions,
preferences, and behaviors
• Persistence of cultural values- core beliefs passed on from parents
• Secondary beliefs- open to change
• Shifts in secondary cultural values
o People's views of themselves, others, organizations, society, nature, and
the universe
Competitive Marketing Intelligence
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collection and analysis of publicly available info about consumers,
competitors, and developments in the marketing environment
Shows how consumers talk and connect with their brands
Used to monitor competitor's activities
,Market Targeting
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- the process of evaluating each market segment's attractiveness and
selecting one or more segments to enter
Idea generation
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systematic search for new-product ideas
Internal sources- R&D, company's own people
External sources- distributors, suppliers, competitors, customers
Crowdsourcing: inviting broad communities of people-customers,
employees, independent scientists and researchers, and public at large-
into the new-product development process
Characteristics of a service (4)
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Intangibility- can't be seen, tasted, felt, heard or smelled before bought
Inseparability- produced and consumed at the same time and can't be
separated from their providers
Variability- quality may vary greatly depending on who provides them and
when, where, and how
Perishability- cannot be stored for later sale or use
, How do an organization's goals relate to its mission?
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o Goals measure how well the organization's mission is being accomplished
o Organizations set their goals/ objectives from their mission statement.
"The company needs to turn its mission statement into detailed supporting
objectives for each level of management. Each manager should have
objectives and be responsible for reaching them" (42).
Augmented product
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additional consumer services and benefits
Product support
Warranty
Delivery and credit
After-sale service
Product Life Cycle Stages: 3.) Growth
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rapid market acceptance and increasing sales and profits
• Early adopters continue to buy, new competitors enter market, promotion
and price same, distributors increase
Give this one a try later!
philosophy in which achieving organizational goals depends on knowing
the needs and wants of target markets and delivering the desired
satisfactions better than the competitors do
Internal marketing
Give this one a try later!
orienting and motivating customer-contact and supporting service
employees to work as a team to provide customer satisfaction
,Institutional Markets
Give this one a try later!
schools, hospitals, prisons and others that provide goods and services to
people in their care
o Low budgets
o Captive patrons
Cultural Environment
Give this one a try later!
institutions and other forces that affect society's basic values, perceptions,
preferences, and behaviors
• Persistence of cultural values- core beliefs passed on from parents
• Secondary beliefs- open to change
• Shifts in secondary cultural values
o People's views of themselves, others, organizations, society, nature, and
the universe
Competitive Marketing Intelligence
Give this one a try later!
collection and analysis of publicly available info about consumers,
competitors, and developments in the marketing environment
Shows how consumers talk and connect with their brands
Used to monitor competitor's activities
,Market Targeting
Give this one a try later!
- the process of evaluating each market segment's attractiveness and
selecting one or more segments to enter
Idea generation
Give this one a try later!
systematic search for new-product ideas
Internal sources- R&D, company's own people
External sources- distributors, suppliers, competitors, customers
Crowdsourcing: inviting broad communities of people-customers,
employees, independent scientists and researchers, and public at large-
into the new-product development process
Characteristics of a service (4)
Give this one a try later!
Intangibility- can't be seen, tasted, felt, heard or smelled before bought
Inseparability- produced and consumed at the same time and can't be
separated from their providers
Variability- quality may vary greatly depending on who provides them and
when, where, and how
Perishability- cannot be stored for later sale or use
, How do an organization's goals relate to its mission?
Give this one a try later!
o Goals measure how well the organization's mission is being accomplished
o Organizations set their goals/ objectives from their mission statement.
"The company needs to turn its mission statement into detailed supporting
objectives for each level of management. Each manager should have
objectives and be responsible for reaching them" (42).
Augmented product
Give this one a try later!
additional consumer services and benefits
Product support
Warranty
Delivery and credit
After-sale service
Product Life Cycle Stages: 3.) Growth
Give this one a try later!
rapid market acceptance and increasing sales and profits
• Early adopters continue to buy, new competitors enter market, promotion
and price same, distributors increase
