marketing final

Strengths, Weaknesses, Opportunities and Threats

A SWOT Analysis focuses on an organization's

customer satisfaction

Organizations should define themselves not according to the products they produce but according to how they satisfy customers. __________ is at the center of everything an organization does.

environmental analysis ; marketing environment

The ____________ section of the marketing plan supplies information about the company's current situation with respect to the __________, the target market, and the firm's current objectives and performance.

it relies on demand for a product being inelastic

What assumption does breakeven analysis make that limits its overall usefulness?

marketing opportunity

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

philanthropic responsibility

a business that contributes resources to the community to improve the quality of life

oligopoly

a few sellers control the supply of a large portion of a product

15 percent commission paid by the media from which it makes purchases

advertising agencies typically receive a....

word of mouth communications

are most effective for personal services products

illustration and the layout

artwork, a major part of most advertisements, consists of the ______________

effective implementation strategy

begins with identifying the activities to be performed and ends with assigning responsibility for each activity to one or more team members

competitive advantage

exists when a firm matches a core competency to opportunities it has discovered in the marketplace.

half

for most firms, the cost of marketing activities consume approximately _______ of the consumer dollar

public relations

is a broad set of communication activities used to create and maintain favorable relations between the organization and its stakeholders

advertising

is a paid, non personal communication about an organization and its products transmitted to a target audience through mass media

pretest

is an evaluation performed before an advertising campaign begins

ad headline

is designed to attract readers attention and develop interest so that they will read the entire advertisement

product placement

is the strategic location of products within entertainment media content

copy

is the verbal portion of a advertisement, including headlines, body, and signature

price, product, place, promotion

marketing mix: the 4 Ps

25%-33%

of civilian workers in the US performs marketing activities

Sherman Antitrust act

prohibits price fixing among firms in an industry

managing customer relationships

requires identifying patterns of buying behavior and then using that information to focus on the most promising and profitable customers

survival

running a big scale in order to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objectives

promotion

tends to capitalize on existing needs

wealth

the accumulation of past income, natural resources, and financial resources

o Political o Legal and Regulatory o Sociocultural o Technological o Economic o Competitive

the forces of the marketing environment include:

properly plan, implement, coordinate, and control communications

the gain maximum benefit from promotional efforts, marketers must strive to....

prosperity

unemployment is low and total income is relatively high