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