Marketing “contemporary Marketing 17e Boone & Kurtz”) – Flashcards
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Utility
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the want-satisfying power of a good or service.
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marketing
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The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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exchange process
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Activity in which two or more parties give something of value to each other to satisfy perceived needs.
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Production orientation
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Business philosophy stressing efficiency in producing a quality product, with the attitude toward marketing that "a good product will sell itself."
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Sales orientation
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Belief that consumers will resist purchasing nonessential goods and services, with the attitude toward marketing that only creative advertising and personal selling can overcome consumers' resistance and persuade them to buy.
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Sellers market
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A market in which there are more buyers for fewer goods and services.
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buyers market
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A market in which there are more goods and services than people willing to buy them.
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Consumer orientation
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Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.
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Marketing concept
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Company wide consumer orientation with the objective of achieving long-run success.
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relationship marketing
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Development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit.
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marketing myopia
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Management's failure to recognize the scope of its business.
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Bottom Line
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Reference to overall company profitability
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Person marketing
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Marketing efforts designed to cultivate the attention, interest, and preferences of a target market toward a person (perhaps a political candidate or celebrity).
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place marketing
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Marketing efforts to attract people and organizations to a particular geographic area.
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Cause marketing
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Identification and marketing of a social issue, cause, or idea to selected target markets.
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event marketing
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Marketing of sporting, cultural, and charitable activities to selected target markets
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organizational marketing
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Marketing by mutual-benefit organizations, service organizations, and government organizations intended to persuade others to accept their goals, receive their services, or contribute to them in some way.
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transaction based marketing
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Buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties.
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mobile marketing
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Marketing messages transmitted via wireless technology
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interactive marketing
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Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through channels such as the Internet and virtual reality kiosks.
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social marketing
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The use of online social media as a communications channel for marketing message
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strategic alliances
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Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market
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wholesalers
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Intermediaries that operate between producers and re sellers.
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exchange functions
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Buying ans selling
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ethics
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Moral standards of behavior expected by a society.
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Social Responsibility
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Marketing philosophies, policies, procedures, and actions that have the enhancement of society's welfare as a primary objective
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sustainable products
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Products that can be produced, used, and disposed of with minimal impact on the environment.
