Managing the Marketing Process, 7-P's (1) Flashcards Preview

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Flashcards in Managing the Marketing Process, 7-P's (1) Deck (71)
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1

Before starting this marketing process, a marketer must first know the ___ _____

end goal

2

Before starting this process, a marketer must first know the end goal — a .______________ approach.

begin with the end

3

What is a "begin with the end in mind" approach?

when a marketers begin the marketing process with the end goal in mind

4

In 1952, General Electric (GE) released its annual report with this statement that shifted the way companies viewed marketing.... In 1952 your Company’s operating managers were presented with an advanced _________ of marketing...this, in simple terms, would introduce the ________ man at the beginning rather than the end of the production cycle and would ________ marketing into each phase of the business...

concept, marketing, integrate

5

"In 1952 your Company’s operating managers were presented with an advanced concept of marketing...this, in simple terms, would introduce...

the marketing man at the beginning rather than the end of the production cycle and would integrate marketing into each phase of the business...

6

What is the selling concept?

Companies could produce the products they wanted and then focus their marketing efforts on selling those items to the customer. (This tendency to focus on selling current products and services to customers is known as the selling concept.)

7

The selling concept is when companies could produce the products they wanted and then focus their marketing efforts on ______ those items to the customer.

selling

8

Marketing is about finding out first what the customer ______ and then working to provide that to the customer.

wanted

9

The marketing concepts is about...

no longer just about selling current products to customers. about finding out first what the customer wanted and then working to provide that to the customer.

10

The Marketing Concept: A management orientation that focuses on identifying and satisfying consumer _____ to ensure the organization’s long-term profitability.”

needs

11

What type of orientation is the marketing concept?

a management orientation

12

The marketing concept is a management orientation that focuses on _______ and ______ consumer needs to ensure the organization's long-term profitability

identifying, satisfying

13

The Marketing Concept: A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization’s long-term ________.

profitability

14

Wht is the core of marketing? 

the customer is ideally at the center of what a marketer does. Long-term profitability for a company depends on finding out what the customer needs and then satisfying those needs, thereby providing that value to the customer. 

15

Long-term profitability for a company depends on finding out what the customer ____ and then satisfying those ____, thereby providing that _____ to the customer.

needs, needs, value 

16

State University marketing professor Dr. Tom Brown describes it this way: “Companies survive by solving ______ for customers. They don’t survive by building stuff or providing services. They survive by satisfying customers’_____. They survive by selling ______.”

problems, needs, solutions 

17

what is the goal of marketing? 

If the goal of marketing is to satisfy the needs of the customers

18

What is marketing manaagement? 

Marketing Management is the process of setting marketing goals, the planning and execution of activities to meet these goals, and measuring progress toward their achievement.

19

Marketing Management is the process of _______ marketing goals, the______ and execution of activities to meet these goals, and _______progress toward their achievement.”

setting,  planning, measuring 

20

What is the framework to begin discussing the marketing process called? 

The MArketing mix or the Ps of Marketing. 

21

the marketing mix is... 

he set of the major categories of ingredients — or building blocks of marketing, if you will — that a marketer can adjust to affect the overall marketing strategy of a product. These are the tools that every marketer can use.

22

the marketing mix is the set of the major categories of ingredients — or building blocks of marketing, if you will — that a marketer can ______ to affect the overall marketing strategy of a product. 

adjust 

23

the marketing mix are the ______ ______ of marketing 

building blocks 

24

What are the 4 P's of marekting? 

Product

Price 

Place 

Promotion

 

25

What is a product? 

A product can be a good, service, or idea to satisfy a customer’s needs. 

26

What does the product cateogry include? 

This category of the marketing mix includes all of the characteristics of the product itself. A marketing manager can adjust the characteristics of the product to provide value to the customer.

27

What are some adjustments taht can be made within the product category? 

 

 

Size of product

Product quality

Packaging

Color

Taste

Multi-packs

Trial size or family size

Features of the service

28

What is price? 

price is the amount that is being charged for the good, service, or idea

29

How can a marketer adjust price? 

A marketer can adjust the price to appeal to the customer and provide value. This doesn’t mean just lowering the price. There are many different ways that a marketer can change elements related to price beyond just making it cheaper.

30

What are some pricing strategies? 

Pricing frameworks such as cost-based, value-based, or competitor-based

Luxury pricing

Buy-one-get-one

Frequent customer discounts

Odd pricing (.99)

Bundle pricing

Volume discounts