Marketing : real people, real decisions

by (2nd ed.)
ISBN-10 0273758160 ISBN-13 9780273758167
468 Flashcards en notities
24 Studenten
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Samenvatting - Marketing : real people, real decisions

  • 1 What is marketing?

  • What is the Definition of marketing?
    The strategic business function that creates vale by stimulating, facilitating and fulfilling customer demand. 
  • What is a consumer?
    The ultimate user of the product (can be individual but also business, government, etc)
  • What is a need?
    A need is the difference between a customers actual state and some ideal or desired state. 
  • What is a want?
    A want is a desire for a particular product to satisfy a need in a specific way that depends on the individuals gusto, learning experience and cultural environment.
  • What is a benefit?
    It occurs when a product satisfies a need or want
  • What is demand?
    it results when one couples desire with buying power to satisfy a want. 
  • What is a marketplace?
    It are the host locations for exchanges. 
  • What is the evolution of the marketing concept?
    - the production era
    - the selling era
    - the consumer era
    - the new era (tripple bottom line)
  • Explain the production era 
    It was until 1930~ 
    A production orientated way works best in a market where the demand is greater than the supply. 
    businesses thought that a basic function was enough to satisfy. 
  • Explain the selling era
  • Explain the customer era
    1957- 1998
    A customer orientated period, trying to satisfy customer needs and wants and offering it. 
  • Explain the new era (triple bottom line)
    (1988-now)
    Building long term bonds with customers. relies on CRM.
  • What is a green marketing strategy?
    It is t choose packages and product designs that are eco-firendly, but still profitable.
  • What is the marketing mix?
    - product
    - place
    - price
    - promotion
  • 2 Strategy and environment

  • What are the 3 levels of business planning?
    - strategic 
    - functional 
    - operational
  • What defines strategic planning?
    - done by top level (management)
    - Mission, sets business unit objectives
    - establish the business portfolio 
    - develops growths strategies 
  • What defines functional planning?
    - Functional level (Marketing director)
    - make situation analysis
    - marketing objectives
    - develop marketing strategies
    - implement them
    - monitor and control them
  • What defines operational planning?
    - by supervisor managers
    - make action plans
    - monitor if plan is working
  • What are SBU's
    Statistic business units 

    Individual units representing various areas of business within the firm. 
  • What is a mission statement?
    A formal document that describes the transitions overall purpose and what it hopes to achieve. 
  • How can you measure the internal and external environment?
    With a SWOT analysis 

    - internal: strengths and weaknesses 
    - external: opportunities and threats 
  • What is the PESTEL-analysis?
    - political
    - economic
    - socio- cultural
    - Technological 
    - environmental trends
    - legal
  • what are FMCG
    Fast moving consumer goods
  • What is GDP?
    Gross domestic product.

    The total value of goods and servers of a country proces in it's borders. 
  • What is GNP?
    Gross national product

    Measures the value of all goed and services produced by a country's individuals and organizations. (doesn't have to be inside the country's border) 
  • What is a LDC?
    Less developed country
    Countries at the lowest stage of economic development
  • What is the standard of living?
  • What is the business circle?
    The overall pattern of changes or fluctuations of an economy 
  • What is Competitive intelligence (CI)? 
    The process of gathering and analyzing publicly available information of competitors. 
  • What is the competition in micro-environment?
    it means that the product alternatives from which members of a target may choose. 
  • What are the 3 levels where marketers compete in the micro-environment?
    - disposable income (the money left after paying for all the necessities)
    - Product competition (in which competitors offer different products to satisfy the need and wants of a customer. (e.g. Starbucks vs Tea in england)
    - brand competition (In which competitors offer similar goods or services to fight for a share of the customers wallet)  
  • What is monopoly?
    Where one seller controls the market
  • What is oligopoly?
    Relative small number of sellers, each holding a substantial market share in a market of many buyers.
  • What is monopolistic competition?
    Many sellers who compete for buyers in a market, each offering a slightly different product, each a small share of the market.
  • What is nationalization?
    When the domestic government reimburses a foregone company for its assets after taking over.
  • What is expropriation?
    When a domestic government seizes a foregein company's assets. 
  • What is the socio-cultural environment?
    it are the:
    -characteristics
    -people who live in that society
    - culture (Value's and believes)
    - Demographics (size, age, income, education)
  • What is a collectivist culture?
    People tend to subordinate their personal goals to those of a stable community. (turkey, greece) 
  • What is a individualist culture?
    Tend to attach more importance to individual goals. 
  • What is enthocentlrism?
    The tendency to prefer products from their own culture over those of others. 
  • Where does SMART stands for?
    Specific
    Measurable
    Attainable (acceptable)
    Relevant
    Time
  • What is a business portfolio?
    The range of different businesses that a firm operates (e.g. unilever) 
  • What is a portfolio analysis?
    A tool management uses to asses the potential of a film's business portfolio. it decided which SBU's should get more or les of the firms recourses.
  • What is the BCG growth market share mix?
    it determines the growth-rate of the market and the relative market share.

    - Stars: High growth, high market share
    - Cash cows: Low growth, high market share
    - Question marks: High growth, low market share
    - Dogs: low growth, low market share 
  • Which 4 growth strategies are there?
    - Market penetration: Existing product in existing markets (encourage to let customers buy more)
    - Development strategies: Introducing existing products into new markets.
    - Product development: New products in existing markets
    - Diversification: New products in new markets. 
  • What are the 4 steps of making a marketing plan?
    - situation analysis
    - Marketing objects
    - Marketing strategies
    - Implement and control marketing plan 
  • What is an operation plan?
    It focuses in the day-to-day execution of the marketing plan
  • What is the corporate culture?
    Value, norms, believes that influence everybody in the organisation
  • What is an import quota?
    Quotas are limitations on the amount of a product allowed to enter or leave the country.
  • What is an embargo?
    An extreme quota that prohibits specific foreign goods completely.
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Voorbeelden van vragen in deze samenvatting

What is a want?
9
What is 'CRM'
8
How do some firms collect information?
8
Explain the Marketing Information System (MkIS)
8
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