Marketing Management Course Overview

A place where business transactions happen based on negotiations.

The responsibility of businesses to give back to society.

A strong belief that a promise will be kept and experienced by the consumer in due time.

The buying process for first-time purchases, including awareness, interest, evaluation, trial, adoption, and post-adoption confirmation.

Paid announcements in various media to attract attention to a product or business.

A model used to analyze a company's product portfolio based on market share and growth rate.

Products with high market share in a high-growth market, requiring large investments for continued growth.

Products with high market share in a slow-growth market, generating more cash than they need.

Products with low market share in a high-growth market, requiring significant investment to compete.

Products with low market share in a low-growth market, potentially draining resources.

Marketing involving a company selling to another organization.

Marketing involving a company selling to individual consumers.

A role within a decision-making unit (DMU) often responsible for administrative transactions.

The stages consumers go through when buying goods or services.

The process of channeling goods from their origin to their final destination, often involving intermediaries.

Elements within a marketing mix used to communicate with targeted audiences.

A type of advertising that compares a firm's products or services directly to competitors.

A sales promotion technique used to gain interest from a target audience by offering a prize.

A person or company purchasing goods or services (not necessarily the end user).

Segmenting markets by demographic factors like age, gender, income, or location.

Direct distribution or promotion involving a firm dealing directly with the end user.

The combination of internal and external factors that affect a firm's business, sales, and marketing.

The broader external factors that influence a firm's business, usually beyond its control.

Launching a new product in a new or existing market.

Selling more of existing products in existing markets.

The management process responsible for identifying, anticipating, and satisfying customer requirements profitably.

A plan to identify and pursue specific market segments for development, including analysis, objectives, strategies, and implementation.

Gathering and analyzing data about internal and external factors to reduce risk and improve marketing decisions.

A pricing strategy where a high price is charged for an exclusive product, often in a niche market.

The strategic or long-term marketing plan for a product.

The part of the external environment that affects a firm's business, sales, and marketing, specific to the industry.

Personal communication between a seller and potential customers.

A model showing the stages a product goes through from pre-launch to withdrawal.

Segmenting markets by lifestyle factors like values, attitudes, and interests.

A marketing strategy where the producer targets the end user with promotions to create demand, pulling the product through the channel of distribution.

A marketing strategy where the producer targets intermediaries with promotions, pushing the product through the distribution chain.

Assessing the purchasing potential of a prospect and verifying their decision-making authority.

Marketing research that elicits opinions and ideas, often through interviews or focus groups.

The complete process of selling, including pre-sale, sale, and post-sale stages.

The process of segmentation, targeting, and positioning to effectively market a product.

The act of engaging target customers in an effort to convince them to use a particular product or service.

The set of activities performed in relation to creating demand for a product and making it available in a specific market.

The process of making available the products from the producer to the end consumer, often involving multiple distribution channels.

A set of four elements: product, price, distribution, and promotion.

The value, usually in monetary terms, which sellers ask for in exchange for the products they are offering.

The techniques used to communicate with existing and potential customers, such as advertising, sales promotion, public relations, and personal selling.

The process of clustering a producer's activities around the needs and wants of consumers, involving design, size, weight, price, and packaging.

They are the activities performed for the purpose of distributing goods and services to their real consumer, including transportation from the producer to the buyer.

Activities that make the marketing process easy and convenient, such as arranging finance and managing risk.

The time when every activity of a producer clusters around the needs and wants of consumers.

A producer creates only those goods and services which are required by its customers, focusing on customer satisfaction.

A philosophical approach to marketing that prioritizes understanding and satisfying customer needs and wants.

The idea of maximizing long-term profitability while integrating marketing with other parts of the company and meeting customer needs and wants.

A planning stage where a producer's activities cluster around the needs and wants of consumers, leading to product design and development.

A planning stage that involves studying the tastes and wants of customers, understanding the target market, and developing strategies to meet their needs.

A stage that involves producing goods and services according to the tastes of the customers, ensuring customer satisfaction.

A stage that involves creating demand for products, promoting them effectively, and ensuring that the product reaches customers.

A stage that involves selling the product, understanding customer needs, and providing exceptional service.

A stage that involves ensuring that the product reaches customers efficiently, effectively managing transport and distribution processes.

A stage that involves providing support after the sale to ensure customer satisfaction, fostering loyalty.

The rivalry among sellers trying to achieve goals like increasing profits, market share, and sales volume by varying elements of the marketing mix.

The set of values on which a business organization is founded.

It is the process of examining a company's product portfolio to see if it is healthy and well-balanced.