Want&-satisfying power of a
good or service.
Process of planning and
executing the conception, pricing, promotion, and distribution of ideas, goods,
and services to create exchanges that will satisfy individual and
organizational objectives.
Process by which two or more
parties give something of value to each other to satisfy perceived needs.
Business philosophy stressing
efficiency in producing a quality product; attitude toward marketing is "a
good product will sell itself."
Business philosophy assuming
that consumers will resist purchasing nonessential goods and services attitude
toward marketing is that creative advertising and personal selling are required
in order to overcome consumer resistance and convince them to buy.
Marketplace characterized by a
shortage of goods and/or services
Marketplace characterized by an
abundance of goods and/or services.
Business philosophy
incorporating the marketing concept of first determining unmet consumer needs
and then designing a system for satisfying them.
Company wide consumer
orientation with the objective of achieving long&-run success.
Term coined by Theodore Levitt
in his argument that executives in many industries fail to recognize the broad
scope of their businesses; according to Levitt, future growth is endangered
because the executives lack a marketing orientation.
Expanded view of marketing as a
generic function to be performed by both profit&-seeking and non&-profit
organizations.
Marketing efforts designed to
cultivate the attention, interest, and preference of a target market toward a
person (typically a political candidate or celebrity).
Marketing efforts to attract
people and organizations to a particular geographic area.
Identification and marketing of
a cause to chosen consumer segments.
Marketing by mutual benefit
organizations, service organizations, and government organizations that seek to
influence others to accept their goals, receive their services, or contribute
to them in some way.
Group of people toward whom a
firm markets its goods, services, or ideas with a strategy designed to satisfy
their specific needs and preferences.
Blending the four strategy
elements of marketing decision making &- product, pricing, distribution,
and promotion &- to satisfy chosen consumer segments.
Element of marketing decision
making comprising activities involved in developing the right good or service
for the firm's customers; involves package design, branding, trademarks,
warranties, product life cycles, and new&-product development.
Element of marketing decision
making that deals with the methods of setting profitable and justifiable
exchange values for goods and services.
Element of marketing decision
making comprising activities and marketing institutions involved in getting the
right good or service vice to the firm's customers.
Element of marketing decision
making that involves appropriate blending of personal selling, advertising, and
sales promotion for use in communicating with and seeking to persuade potential
customers.
