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Description
Flashcards by Kirsten Küss, updated more than 1 year ago
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Created by Kirsten Küss
about 5 years ago
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| Question | Answer |
| RETURN OF INVESTMENT (ROI) | Net return from marketing investment /costs of marketing investment |
| CUSTOMER EQUITY | total combined customers lifetime values of all of the companies customers |
| MARKETING PROCESS | companies create value for customers and build strong customer relationships → capture value from customers in return |
| MARKETING STRATEGY | marketing logic by which company hopes to create customer value |
| DEMANDS | human WANTS that are backed up by BUYING POWER |
| PRODUCT DEVELOPMENT | Company growth by offering new product to current market |
| 4 P's OF MARKETING MIX | • Price • Product • Place • Promotion |
| Strategy Considerations in Societal Marketing | • Society • Consumers • Company |
| VALUE PROPOSITION | set of benefits or values a company promises to deliver to consumer → satisfy their needs |
| MARKET PENETRATION | Company growth by increasing sales of current product to current market |
| MISSION STATEMENT | acts as a "invisible hand" that guides people in the organization |
| SELLING CONCEPT | consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort |
| 2 KEY QUESTIONS OF CUSTOMER DRIVEN STRATEGY | • Which customer will we serve? • How will we create value for the customers? |
| SHARE MATRIX |
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Th 1 (binary/octet-stream)
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| CUSTOMER-PERCEIVED VALUE | customers evaluation of difference between benefits and costs of a marketing offer im comparison to competitors |
| BUSINESS OBJECTIVES (examples) | • profits • cost reduction |
| SELLING CONCEPT | focus on existing products |
| CONSUMER-GENERATED MARKETING | brand exchanges created by consumers, shape their own experience and those of other consumers |
| STRATEGIC PLANNING | process of developing and maintaining a strategic fit between organizations and organizational capabilities and its changing marketing opportunities |
| PRODUCT CONCEPT | idea: consumers will favor products that offer the most quality, performance, organization should make continuous product improvements |
| CUSTOMER-DRIVEN STRATEGY | • target market • value proposition |
| MARKETING IMPLEMENTATION | Turning strategies and plans into marketing ACTION to accomplish marketing objectives |
| PORTFOLIO ANALYSIS | process by which MANAGMENT evaluates the products and businesses that make up the company |
| CUSTOMER-MANAGED RELATIONSHIP | marketing realtionships in which costumers interact with comapnies and each other to shape relationship with brand |
| MARKETING MANAGMENT ORIENTATIONS | • Production concept • Product concept • Selling concept • Marketing concept • Societal marketing concept |
| MARKETING OBJECTIVES (example) | • market share |
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