BCOR 2201 Midterm, CU Boulder ALREADY
PASSED
Marketing - =The science and art of exploring, creating and delivering value to satisfy the needs
of a target market at a profit
4 P's of Marketing (Marketing Mix) - =Product, Price, Place, Promotion
Point of Difference - =a unique product characteristic or benefit that sets it apart from a
competitor
4 things needed for marketing to occur - =1. 2 or more parties with unsatisfied needs
2. desire & ability to have needs satisfied
3. a way for parties to communicate
4. something to exchange
Exchange - =the trade of things of value between the buyer and the seller so that each party is
better off as a result
Environmental Forces - =uncontrollable variables that affect a marketing decision: Social,
Economic, Technological, Competitive and Regulatory Forces
Customer Value - =the unique combination of benefits received by targeted buyers that
includes quality, convenience, on-time delivery as well as before and after sale service at an
agreed upon price
Marketing Program - =a plan that integrates the marketing mix to provide a good, service, or
idea to prospective buyers
, Societal Marketing Concept - =the view that organizations should satisfy the needs of
consumers in a way that provides for society's well-being
Form Utility - =The production of the good or service
Place Utility - =having the offering available where consumers need it
Possession Utility - =making an item easy to purchase (credit card)
Time Utility - =Having the offering available when consumers need it
Value - =a perception calculated by the equation
Value = Benefit/Price
Market Strategy - =a businesses long-term plan, developed to achieve specific goals
BCG Matrix - =a means of evaluating strategic business units on the basis of (1) their business
growth rates and (2) their share of the market
Ansoff Matrix - =An analytical tool to devise various product and market growth strategies,
depending on whether businesses want to market new or existing products in either new or
existing markets.
5 C's Analysis - =Customers, Company, Competitors, Collaborators, Context
4 Types of Business Risks - =Technical: Can we build this app?
People: Can we retain key employees?
Financial: Can we stay well financed?
PASSED
Marketing - =The science and art of exploring, creating and delivering value to satisfy the needs
of a target market at a profit
4 P's of Marketing (Marketing Mix) - =Product, Price, Place, Promotion
Point of Difference - =a unique product characteristic or benefit that sets it apart from a
competitor
4 things needed for marketing to occur - =1. 2 or more parties with unsatisfied needs
2. desire & ability to have needs satisfied
3. a way for parties to communicate
4. something to exchange
Exchange - =the trade of things of value between the buyer and the seller so that each party is
better off as a result
Environmental Forces - =uncontrollable variables that affect a marketing decision: Social,
Economic, Technological, Competitive and Regulatory Forces
Customer Value - =the unique combination of benefits received by targeted buyers that
includes quality, convenience, on-time delivery as well as before and after sale service at an
agreed upon price
Marketing Program - =a plan that integrates the marketing mix to provide a good, service, or
idea to prospective buyers
, Societal Marketing Concept - =the view that organizations should satisfy the needs of
consumers in a way that provides for society's well-being
Form Utility - =The production of the good or service
Place Utility - =having the offering available where consumers need it
Possession Utility - =making an item easy to purchase (credit card)
Time Utility - =Having the offering available when consumers need it
Value - =a perception calculated by the equation
Value = Benefit/Price
Market Strategy - =a businesses long-term plan, developed to achieve specific goals
BCG Matrix - =a means of evaluating strategic business units on the basis of (1) their business
growth rates and (2) their share of the market
Ansoff Matrix - =An analytical tool to devise various product and market growth strategies,
depending on whether businesses want to market new or existing products in either new or
existing markets.
5 C's Analysis - =Customers, Company, Competitors, Collaborators, Context
4 Types of Business Risks - =Technical: Can we build this app?
People: Can we retain key employees?
Financial: Can we stay well financed?
