MKT 315 Definition Matrix for Midterm (CAT)

Definition Matrix for Midterm (CAT) Vocabulary Word Definition Reactive CSR Occurs when a firm seeks to make positive social contributions as a way to compensate for previous negative impacts, or seeks to do the minimum required by law and society. Monopoly a market where only one firm sells the product Oligopoly a market where few sellers control most of the sales Green Marketing Presenting a public image of environmental friendliness based on false or misleading information. Green marketing would be marketing of the products that are good for the environment. Can cause many different things than traditional marketing. Marketing Concept The business orientation model that involves creating value and satisfying consumer needs. Maslow’s hierarchy of needs A guide to help understand what motivates human beings to act. SMART goals Acronym that stands for specific, measurable, achievable, relevant, and timely, and pertains to formulation of organizational objectives that are clear and measurable.