2 marketing

sustainable marketing

socially and environmentally responsible marketing that meets the present need of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

Captive-product Pricing examples

E.g., toner cartridge for specific model of printer For services, 2-part pricing: fixed fee + variable usage rate E.g., SD County Fair entry fee + fees to play games

strategic planning

Process of developing and maintaining a strategic fit between the organization's goal and capabilities and its changing marketing opportunities.

Raw materials exporting economy

Rich in one or more natural resources but poor in other ways. much of their revenue comes from exporting these resources. ex Chile (tin & cooper) and the democratic republic of the Congo (cooper, cobalt, & coffee). These countries are good markets for large equipment, tools and supplies, and trucks. They are also a market for luxury goods.

Low Relative Market share+High Market growth rate

(Build) ?- If built it can gain more market, share can later become a star

Low Relative Market share+Low Market growth rate

(Divest) Dog

High Relative Market share+Low Market growth rate

(Harvest) Cash cow Just take money it generates

High Relative Market share+High Market growth rate

(Hold) Star Strong business unit

Consumer-oriented marketing is __________.

A principle of sustainable marketing that holds a company should view and organize its marketing activities from the customers point of view

Marketing information system

A(n) __________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights

internal database

A(n) __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network.

SWOT Developing Goals

An overall evaluation of the company's Strengths, weaknesses, opportunities, and threats. Positive negative Internal Strength Weaknesses external Opportunities Threats

Advertising

Any paid form of nonpersonal presentation & promotion of ideas, goods, or services by an identified sponsor.

Corporate Branding

Building a certain image and reputation in the mind of your consumers helps you carve out your place in your target audience distinct from competitors. For example, Apple invests heavily in maintaining its reputation as a cutting-edge mobile technology and device maker.

Public relations

Building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, & handling or heading off unfavorable rumors, stories & events.

______ has a business unit low & market share is high it is a?

Cash cow

Product bundle Pricing

Combining several products and offering the bundle at a reduce price.

Marketing planning

Competitors>Product/price>targeting/differentiation.

Sustainability issues relevant to marketing

Criticisms of marketing's impact on consumers Higher prices Deceptive practices High-pressure selling Shoddy products Planned/perceived obsolescence Economic redlining & food deserts Criticisms of marketing's impact on businesses Reduction of competition through Acquisition of competitors Creation of barriers to entry Unfair competitive practices

Optional product pricing example

Extra charge for options Ex cars

Developing economy

Fast growth in manufacturing results in rapid overall economic growth. As more Developed markets stagnate and become increasingly competitive, many marketers are now targeting growth opportunities in emerging markets.

cluster

In a __________ sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview.

Levels of economic development

Industrial economy Developing economy Subsistence economy Raw materials exporting economy

Industrial economy

Major exporters of manufactured good, services, and investment funds. They trade goods among themselves and also export them to other types of economies for raw materials & semifinished goods. Ex In the US, Japan & Norway

Generational marketing

Marketing different generations. spliting people off in groups and targeting the younger ones. Generation X, Y, & Z

sustainable marketing chart

Now future Now | Marketing concept Strategic planning concept Future | Societal Substainable marketing concept marketing concept

Generation Z

People born after 2000 who make up the kids, tweens, and teens market.

Personal Selling

Personal customer interactions by the firm's sales force for the purpose of engaging customers, making sales and building customer relationships.

By-Product pricing

Setting a price for by-products in order to make the main product's price more competitive.

Captive-product Pricing

Setting a price for products that must be used along with a main product, such as blades for a razor and games for a video-game console

Sales promotion

Short term incentives to encourage the purchase or sale of a production or a service

What is sustainable marketing?

Socially responsible marketing that Meets present needs of consumers & business While preserving ability of future generations to meet their needs Combines societal marketing concept with strategic planning concept

Generation X

The 49 million people born between 1965 & 1976 in the "birth dearth" following the baby boom.

Generation Y

The 83 million children born between 2977 & 2000. Also known as Millennials.

strategic planning concept

The __________ considers future company needs.

sustainable marketing concept

The __________ meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Code of Standards and Ethics for Survey Research

The __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment.

Microenvironment

The actors close to the company that affects its ability to engage and serves its customers--the company, suppliers, marketing intermediaries, customers, markets, competitors, & public. combine to make up the company's value delivery network.

Macroenvironment

The larger societal forces that affect the Microenvironment-- demographic, economic, natural, technological, political, and cultural forces. These forces shape opportunities & pose threates to the company.

Marketing strategy

The marketing logic by which the company hopes to create customer value & achieve profitable customer relationship.

mission statement what are the characteristics

The organization's purpose--what it wants to accomplish in the larger environment. Market oriented and defined in terms of satisfying basic customer needs.

Optional product pricing

The pricing or accessory products along with a main product

Marketing research is __________

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Subsistence economy

The vast majority of people engage in simple agriculture. They consume most of their output & barter the rest for simple goods and services. Offer few market opportunities. Many african countries fall into this category.

Product Brand

Unless your company only makes or sells one product, you also need to invest in marketing for each new product launch. By emphasizing a variety of attributes. The key is distinguishing which benefits your product offer that are bigger or better than competitors. Best quality, unique features, sleek design, durability, reliability and performance are some traits companies may use to brand products.

Embracing ethical values

___ means building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency, and citizenship.

Primary data

_______ are information collected for the specific purpose at hand.

Competitive marketing intelligence

_______ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Code of ethics programs

________ help/s teach managers about important ethical issues and help/s them find the proper responses to those ethical issues.

Foster the truth

________ in the marketing system means striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery or distribution.

deceptive pricing

________ includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail list price.

Customer-value marketing

________ is a principle of sustainable marketing that holds a company should put most of its resources into customer-value-building marketing investments.

do no harm

________ means to consciously avoid harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.

Causal Research

_________ is marketing research to test hypotheses about cause-and-effect relationships.

desirable products

__________ are products that give both high immediate satisfaction and high long-run benefits

Pleasing products

__________ are products that give high immediate satisfaction but may hurt consumers in the long run.

Salutary products

__________ are products that have low immediate appeal but may benefit consumers in the long run.

Samples

__________ are segments of the population selected for marketing research to represent the population as a whole.

Deceptive packaging

__________ includes exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms.

deceptive promotion

__________ includes practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock.

Ethnographic research

__________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments."

Sense-of-mission marketing

__________ is a principle of sustainable marketing holding that a company should define its mission in broad social terms rather than narrow product terms.

innovative marketing

__________ is a principle of sustainable marketing that requires a company to seek real product and marketing improvements.i

Perceived obsolescence

__________ is continually changing consumer concepts of acceptable styles to encourage more and earlier buying.

Survey research

__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Observational research

__________ is gathering primary data by observing relevant people, actions, and situations.

Experimental research

__________ is gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.

Descriptive research

__________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers

Exploratory research

__________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Customer insight

__________ is the fresh understanding of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships.

Quota sample

__________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher.

In a simple random sample

every member of the population has a known and equal chance of selection

Deficient products are products that __________.

have neither immediate appeal nor long-run benefits

stratified random

in a __________ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group

Secondary data are

information that already exists somewhere, having been collected for another purpose

The marketing concept recognizes __________.

that organizations thrive from day to day by determining the current needs and wants of target customers and fulfilling those needs and wants more effectively and efficiently than competitors do

societal marketing concept

the __________ considers the future welfare of consumers.

whole sales price

unknown to final consumers. basically only sale to retailers