This information is provided exclusively for the personal and academic use of students, instructors and other university personnel. Sara Lee Industries spent considerable money and time developing crustless bread. For more information on developing a marketing plan see our marketing plan tutorial. Tariff a tax on goods or services entering a country. Definition The art and science of chosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
. What marketing mix will be offered, to whom, and for how long 2. Mass selling, which splits into Advertising any paid form of nonpersonal persentation , and Publicity unpaid, nonpersonal. Definition We only notice info that is interesting to us Term What is selective perception? Protectionism the practice of shielding one or more industries within a country's economy from foreign competition, usually through the use of tariffs or quotas. Which of the following involves entering data in computer files, inspecting the data for errors, and running tabulations and various statistical tests? Guatemala is a small country that is unable… 1509 Words 7 Pages tutorial provides information and guidelines that professionals and students should consider when presented with the task of researching a market. Definition Drive, cues, response, reinforcement Term How does reinforcement affect the buying process? Firms become value driven by sharing information about customers and competitors, balancing benefits with costs, building relationships with customers.
Clearly customs can vary significantly from country to country. Definition The central instrument for directing and coordinating the marketing effort. The four P's of Marketing - Product. Points of difference characteristics of a product that make it superior to competitive substitutes. They require large injections of cash just to maintain their market share, much less increase it. Customs the normal and expected ways of doing things in a specific country. What is exchanged for the product.
Although they may generate enough cash to sustain themselves, they do not hold the promise of ever becoming real winners for the organization. Instead, its goals may be operational efficiency or client satisfaction. They require large injections of cash just to maintain their market share, much less increase it. Satisfaction: a person's judgement of a product's perceived performance in relationship to expectations. Thus, the information provided should not focus so much on what is being planned but on what has been learned about the market. Analyze the importance of marketing orientation.
Definition Add benefit, subtract non-monetary costs Term How are marketing and materialism related? Definition -Inherit complexity of the problem: over focus on one area, solutions require changes, common definition -Conflicting interests: corporate interests, national interests, personal interests, interest groups -Post-modernization factors: population growth, science and technology, large scale industrialism, materialism Term What kind of consumers are socially responsible? Definition Product, Price, Promotion, Place Term What is the difference between target and mass marketing? Marketing shapes consumer wants capitalizing on their basic needs. Definition Physiological needs- food, drink, rest, sex Safety needs- health, protection Social needs- friendship, love, acceptance Personal needs- self-esteem, accomplishment, fun Term What is perception? When an advertiser pays a fixed amount e. Definition A firm's obligation to improve its positive effects on society and reduce its negative effects. When you have completed the exam, hand in the exam and answer sheet to the… 1704 Words 7 Pages Acccounting 248:51 Spring 2014 Midterm Exam April 7, 2014 Instructor: Dan Cunningham Email: dan dancunningham. Relational-orientation based on the philosophy that buyers and sellers should develop a long term relationship.
Assess the importance of production orientation. Market Penetration a marketing strategy to increase sales of current products in current markets Market Development a marketing strategy to sell current products to new markets Product Development a marketing strategy of selling new products to current markets Generated by Koofers. Definition Discovering consumer needs ex: Pakistani food restaurant fails, even though its good, because there is no demand Term What is marketing's second task? Definition The task of hiring, training and motivating able employees who want to serve customers well. Telling the target market about the product and selling the product. Term What is the marketing mix? Profit the money left after a business firms 'total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings.
Analyze what customer satisfaction is. To describe the health status of the population B. Definition Present product, new market Term Product development? A good, service, or idea to satisfy the consumer's needs. Term What challenges are faced in sustainable development? Discuss the three factors firms consider when evaluating the market segments. Although they may generate enough cash to sustain themselves, they do not hold the promise of ever becoming real winners for the organization.
Why is marketing important—all of the factors. Term Core Concepts: Offerings and Brands Definition Value proposition: a set of benefits that satisfy consumer needs. In order to serve buyer and seller marketing seeks to. Definition We only remember what we want to Term What are the steps of the learning process? Provides stages with unique priorities, etc. A good, service, or idea to satisfy the consumer's needs.