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Side A ------ Side B
Target market-  ------ 

a specific group of customers on whom an organization
focuses its marketing efforts


Marketing mix ------ marketers combine and balance four elements when determining how to satisfy customers needs for a product. Product, price, distribution, promotion
Marketing Exchanges ------ the provision or transfer of goods, service, or ideas in return for something of value
Marketing Environment ------ the six forces that surround the customer and affect the marketing mix. Economic, political, legal and regulatory, technological, socio-cultural, competitive
Marketing ------ the process of creating, distributing, promoting and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customer and develop and maintain favorable relationships with stakeholders in a dynamic environment
Marketing Concepts ------ a management philosophy that an organization should try to provide products that satisfy customer’s needs through a coordinated set of activities that also allows the organization to achieve its goals
Evolution of the Marketing Concept ------ product orientation (1850-1920), Sales orientation (1920-1960) market orientation (1960-current)
Value- Driven Marketing ------ a customer’s subjective assessment of benefits relative to costs in determining the worth of a product
Strategic Planning Process ------ the process of establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.
Marketing Strategy ------ a plan of action of identifying and analyzing a target market and developing a marketing mix to meet the needs of that market
Marketing Plan ------ a written document that specifies the activities to be performed to implement and control the organization’s marketing actives
Competitive Advantage ------ the result of a company’s matching a core competency to opportunities in the market place
Corporate Identity ------ should support all corporate activities, unique symbols, personalities, philosophies.
Corporate Strategy ------ a strategy that determines the means for utilizing resources in the various functional areas to reach the organizations goals
Marketing Implementation  ------ the process of putting marketing strategies into action
Environmental Scanning ------ - the process of collecting information about forces in the marketing environment.
Political Forces in Marketing ------ enactment of legislations, legal decisions interpreted by courts through civil criminal cases, influences or regulatory agencies.
Types of Competitive Structures  ------ Monopoly, Oligopoly 
Monopolistic Competition ------ when an organization with many competitors develops a marketing strategy to differentiate its products
Pure Competition ------ a large number of sellers, no one of which influences price or supply
Consumer Protection ------ legislation (federal and state laws), protect people from harm, prohibits hazardous products, requires information disclosure, aimed at particular marketing activities
Adoption and use of technology ------ firms must keep up with technology to maintain their status as market leaders
Social Responsibility  ------ an organization’s obligation to maximize its positive impact and minimize its negative impact on society
Cause Related marketing ------ the practice of linking products to a particular social cause on an ongoing or short term basis
Strategic Philanthropy ------ the synergistic use of organizational core competencies and resources to address key stakeholder’s interests and achieve both organizational and social benefits.
Ethical Issues to the marketing mix ------ product-failing to disclose risks associated with a product, distribution- manipulating product availability, promotion-offering and accepting bribes in personal selling situations, price-price fixing
Social Responsibility and ethics improve marketing performance ------ evidence shows there are long term financial to being ethical and socially responsible
Steps in conducting marketing research ------ locating and defining issues of problems, designing the project, collecting data, interpreting research findings, report’s findings.
Methods  of gathering date  ------ mail, telephone, online, door-to door, focus group
Marketing Research process step 1 & 4 ------ 1- focus on uncovering the nature and boundaries of situation, 4-interpret findings.
Type of Research ------ exploratory, conclusive, descriptive, experimental.
Personal Interview  survey ------ in-home/door to door, focus groups, customer advisory board, telephone depth, shopping mall intercept.
Questionnaire Construction types ------ open ended question, multiple choice question, dichotomous question
Consumer Market ------ purchasers and household members who intend to consumer or benefit from the purchased products and do not buy products to make profits
Business Market ------ individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations
Undifferentiated targeting strategy ------ a strategy in which an organization designs a single marketing mix and directs it at the entire market for a particular product
Homogenous Market ------ a market in which large proportion of customers have similar needs for a product
Major Segmentation  ------ the process of dividing a total market into groups with relatively similar product needs to design a marketing mix that matches those needs
Concentrated Targeting Strategy ------ a market segmentation strategy in which an organization targets a single market segment using one marketing mix
Differentiated Targeting ------ a strategy in which an organization targets two or more segments by developing a marketing mix for each segment
Target Market Selection process- Step 3 ------ develop market segment profiles
Product Positioning ------ creating and maintain a certain concept of a product in customers mind
Repositioning  ------ changing the product, its price or its distribution
Stages of consumer buying ------ problem recognition, information search, evaluation of alternatives, purchase stage, post purchase evaluation
Consumer buying behavior ------ the decision processes and actions of people involved in buying and using products
Perception ------ selecting, organizing and interpreting information to produce meaning
Attitudes ------ individual’s enduring evaluations of feelings about and behavioral  tendencies toward an object or idea.
Lifestyles ------ refers to individual’s pattern of living expressed through activities, interest and opinions
Consumer problem solving strategies ------ routinized response, limited problem solving, extended problem solving, and impulse buying
Social Influence roles ------ actions and activities that a person in a particular position is supposed to perform based on expectations of the individual and surrounding persons
Culture ------ the accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment and passes on to future generation
Subculture ------ groups of individuals whose characteristic values and behavior patterns are similar and different from those of the surround culture 
Characteristics of transactoins with businesses ------ tend to be longer than individual consumer sales
Types of business purchases  ------ new task purchase: item purchased to perform a new job, straight rebuy: routine purchases of same product, modified rebuy: new task purchase that is changed on subsequent orders
Buying Center ------ the group of people within the organization who make business purchase decisions
influences of the business buying decision process  ------ environmental, organizational, interpersonal, individual
Industrial classification systems  ------ ready-made tools which allow marketers to divide organization into groups based mainly on the type of goods and services provided

Side A ------ Side B
Target market-  ------

a specific group of customers on whom an organization
focuses its marketing efforts

Marketing mix ------ marketers combine and balance four elements when determining how to satisfy customers needs for a product. Product, price, distribution, promotion
Marketing Exchanges ------ the provision or transfer of goods, service, or ideas in return for something of value
Marketing Environment ------ the six forces that surround the customer and affect the marketing mix. Economic, political, legal and regulatory, technological, socio-cultural, competitive
Marketing ------ the process of creating, distributing, promoting and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customer and develop and maintain favorable relationships with stakeholders in a dynamic environment
Marketing Concepts ------ a management philosophy that an organization should try to provide products that satisfy customer’s needs through a coordinated set of activities that also allows the organization to achieve its goals
Evolution of the Marketing Concept ------ product orientation (1850-1920), Sales orientation (1920-1960) market orientation (1960-current)
Value- Driven Marketing ------ a customer’s subjective assessment of benefits relative to costs in determining the worth of a product
Strategic Planning Process ------ the process of establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.
Marketing Strategy ------ a plan of action of identifying and analyzing a target market and developing a marketing mix to meet the needs of that market
Marketing Plan ------ a written document that specifies the activities to be performed to implement and control the organization’s marketing actives
Competitive Advantage ------ the result of a company’s matching a core competency to opportunities in the market place
Corporate Identity ------ should support all corporate activities, unique symbols, personalities, philosophies.
Corporate Strategy ------ a strategy that determines the means for utilizing resources in the various functional areas to reach the organizations goals
Marketing Implementation  ------ the process of putting marketing strategies into action
Environmental Scanning ------ - the process of collecting information about forces in the marketing environment.
Political Forces in Marketing ------ enactment of legislations, legal decisions interpreted by courts through civil criminal cases, influences or regulatory agencies.
Types of Competitive Structures  ------ Monopoly, Oligopoly 
Monopolistic Competition ------ when an organization with many competitors develops a marketing strategy to differentiate its products
Pure Competition ------ a large number of sellers, no one of which influences price or supply
Consumer Protection ------ legislation (federal and state laws), protect people from harm, prohibits hazardous products, requires information disclosure, aimed at particular marketing activities
Adoption and use of technology ------ firms must keep up with technology to maintain their status as market leaders
Social Responsibility  ------ an organization’s obligation to maximize its positive impact and minimize its negative impact on society
Cause Related marketing ------ the practice of linking products to a particular social cause on an ongoing or short term basis
Strategic Philanthropy ------ the synergistic use of organizational core competencies and resources to address key stakeholder’s interests and achieve both organizational and social benefits.
Ethical Issues to the marketing mix ------ product-failing to disclose risks associated with a product, distribution- manipulating product availability, promotion-offering and accepting bribes in personal selling situations, price-price fixing
Social Responsibility and ethics improve marketing performance ------ evidence shows there are long term financial to being ethical and socially responsible
Steps in conducting marketing research ------ locating and defining issues of problems, designing the project, collecting data, interpreting research findings, report’s findings.
Methods  of gathering date  ------ mail, telephone, online, door-to door, focus group
Marketing Research process step 1 & 4 ------ 1- focus on uncovering the nature and boundaries of situation, 4-interpret findings.
Type of Research ------ exploratory, conclusive, descriptive, experimental.
Personal Interview  survey ------ in-home/door to door, focus groups, customer advisory board, telephone depth, shopping mall intercept.
Questionnaire Construction types ------ open ended question, multiple choice question, dichotomous question
Consumer Market ------ purchasers and household members who intend to consumer or benefit from the purchased products and do not buy products to make profits
Business Market ------ individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations
Undifferentiated targeting strategy ------ a strategy in which an organization designs a single marketing mix and directs it at the entire market for a particular product
Homogenous Market ------ a market in which large proportion of customers have similar needs for a product
Major Segmentation  ------ the process of dividing a total market into groups with relatively similar product needs to design a marketing mix that matches those needs
Concentrated Targeting Strategy ------ a market segmentation strategy in which an organization targets a single market segment using one marketing mix
Differentiated Targeting ------ a strategy in which an organization targets two or more segments by developing a marketing mix for each segment
Target Market Selection process- Step 3 ------ develop market segment profiles
Product Positioning ------ creating and maintain a certain concept of a product in customers mind
Repositioning  ------ changing the product, its price or its distribution
Stages of consumer buying ------ problem recognition, information search, evaluation of alternatives, purchase stage, post purchase evaluation
Consumer buying behavior ------ the decision processes and actions of people involved in buying and using products
Perception ------ selecting, organizing and interpreting information to produce meaning
Attitudes ------ individual’s enduring evaluations of feelings about and behavioral  tendencies toward an object or idea.
Lifestyles ------ refers to individual’s pattern of living expressed through activities, interest and opinions
Consumer problem solving strategies ------ routinized response, limited problem solving, extended problem solving, and impulse buying
Social Influence roles ------ actions and activities that a person in a particular position is supposed to perform based on expectations of the individual and surrounding persons
Culture ------ the accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment and passes on to future generation
Subculture ------ groups of individuals whose characteristic values and behavior patterns are similar and different from those of the surround culture 
Characteristics of transactoins with businesses ------ tend to be longer than individual consumer sales
Types of business purchases  ------ new task purchase: item purchased to perform a new job, straight rebuy: routine purchases of same product, modified rebuy: new task purchase that is changed on subsequent orders
Buying Center ------ the group of people within the organization who make business purchase decisions
influences of the business buying decision process  ------ environmental, organizational, interpersonal, individual
Industrial classification systems  ------ ready-made tools which allow marketers to divide organization into groups based mainly on the type of goods and services provided