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EXAM 1 | MKT 201 - Principles of Marketing, Quizzes of Principles of Marketing

Class: MKT 201 - Principles of Marketing; Subject: Marketing; University: Canisius College; Term: Spring 2011;

Typology: Quizzes

2010/2011

Uploaded on 02/11/2011

janne14344
janne14344 🇺🇸

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TERM 1
Creating MKT component
1
DEFINITION 1
The process of collaborating with suppliers and customers to
create offerings that have value.
TERM 2
Personal Value Equation
DEFINITION 2
Value* = benefits received (price + hassle) *** Value is
determined by customer
TERM 3
4P's
DEFINITION 3
PRODUCT PRICE PLACE PROMOTION
TERM 4
4 New
Concepts
DEFINITION 4
-Creating VALUE -Exchanging VALUE -Delivering VALUE -
Communicating VALUE
TERM 5
Supply Chain
DEFINITION 5
1. raw Materials and component suppliers 2 Producer 3
Intermediary 4 Retailer
pf3
pf4
pf5

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Creating MKT component

The process of collaborating with suppliers and customers to create offerings that have value. TERM 2

Personal Value Equation

DEFINITION 2 Value* = benefits received (price + hassle) *** Value is determined by customer TERM 3

4P's

DEFINITION 3 PRODUCT PRICE PLACE PROMOTION TERM 4

4 New

Concepts

DEFINITION 4 -Creating VALUE -Exchanging VALUE -Delivering VALUE - Communicating VALUE TERM 5

Supply Chain

DEFINITION 5

  1. raw Materials and component suppliers 2 Producer 3 Intermediary 4 Retailer

Immoral

Manipulative Superficial Promotes Greed Promotes Over Consumption Creates Stress Ruins the Environment Creates Winners AND Losers: Social and Political Strife TERM 7

Cura Personalis

DEFINITION 7 Cura Personalis: Care for the whole or individual person TERM 8

Value Proposition

DEFINITION 8 A 30-second elevator speech* Here are the benefits of our product This is why it is superior to other ones TERM 9

Elevator speech parts

DEFINITION 9 For: electronics industry manufacturers Who: The: PolyTronics conductive plastic Is an: advanced material That: inexpensively and completely eliminates damage from static electricity. Unlike: currently used, expensive static discharge equipment Our: product is an integral part of the electronics assembly that continually drains static charge from the product assembly TERM 10

Marketing

DEFINITION 10 the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Non profit Marketing

When a nonprofit organization engages in marketing activities, this is called nonprofit marketing activities conducted to meet the goals of nonprofit organizations. TERM 17

Social Marketing

DEFINITION 17 Marketing conducted in an effort to achieve certain social objectives can be done by government agencies, nonprofit institutions, religious organizations, and others and is called social marketing TERM 18

Marketing

Research

DEFINITION 18 Personnel in marketing research are responsible for studying markets and customers in order to understand what strategies or tactics might work best for firms. TERM 19

Merchandising

DEFINITION 19 In retailing, merchandisers are responsible for developing strategies regarding what products wholesalers should carry to sell to retailers such as Target and Walmart. TERM 20

Sales

DEFINITION 20 Salespeople meet with customers, determine their needs, propose offerings, and make sure that the customer is satisfied. Sales departments can also include sales support teams who work on creating the offering.

Advertising

Whether its for an advertising agency or inside a company, some marketing personnel work on advertising. Television commercials and print ads are only part of the advertising mix. Many people who work in advertising spend all their time creating advertising for electronic media, such as Web sites and their pop-up ads, podcasts, and the like. TERM 22

Product Development

DEFINITION 22 People in product development are responsible for identifying and creating features that meet the needs of a firms customers. They often work with engineers or other technical personnel to ensure that value is created. TERM 23

Direct Marketing

DEFINITION 23 Professionals in direct marketing communicate directly with customers about a companys product offerings via channels such as e-mail, chat lines, telephone, or direct mail. TERM 24

Event Marketing

DEFINITION 24 Some marketing personnel plan special events, orchestrating face-to-face conversations with potential and current customers in a special setting. TERM 25

Marketing Plan

DEFINITION 25 is the strategy for implementing the components of marketing: creating, communicating, delivering, and exchanging value.

Service-determinant Logic

the approach to business that recognizes that consumers want value no matter how it is delivered TERM 32

Strategic Business unit

DEFINITION 32 is a business or product line within an organization that has its own competitors, customers, and profit center for accounting purposes. TERM 33

SWOT analysis

DEFINITION 33 strengths, weaknesses, opportunities, and threats