Marketing	process by which companies create value for customers & build strong relationships
Core customer and marketplace concepts	needs,wants,demands;market offerings;value&satisfaction;exchange and relatn;markets
Steps in the marketing process	Underst marketplc+customer needs;design cust drivn strategy;preper integr mark plan;build cust rela+
marketing managemant	art of choosing target markets
marketing managemant orientations	product,production,selling,marketing,societal marketing
customer relationship management	process of building and maintaining profitable cust relationship by customer value+satisfaction
strategic planning	process of developing and maintaining a strategic fit between organizations goals and capabilities
steps in wide-strategic planning	defin a market oriented mission;setting objectiv&goals;designing business portfolio;detld mark plan
portfolio planning	analyze curent port;adjust to firms strenghts by dvlp growth and downsizing strategy
marketing strategy	logic by which company hopes to create customer value
customer-driven marketing strategy elements	segmentation, targeting, differentiation, positioning
forces developing integrates marketing mix	4ps-product, place,price,promotion
bases for segmenting consumer	geographic, demographic, psychographic(social class&lifestyle),behavioral(knowledge&attitudes)
Bases for segmenting business	business demographic;operating characteristics;purchase approach;situationl factors;personal charact
For segmentation analysis to be effective, segments must be:	measurable, accessible, substantial, differentiable, actionable
how to evaluate market segments and choose the right one?	ev. by size,growth charact,structurl atractiveness,compatibilit with comp objectvs+ choose strategy
choosing market targeting strategies	undifferented marketing;differentiated marketing;concentrated marketing;micromarketing
how companies differentiate + position product?	identyfy set of possible differentiations;choose adv on which to build a posit;selec overall posit s
overal positioning strategies	more for more; more for the same; same for less, less for much less
types of products and services	consumer product (convenience,shoppin,specialty,unsought) ; industrial product
decisions regarding individual product and service	product attributes, branding, packaging, labeling,support services
decisions regarding product line	line lenght,line filling, line stretching
decisions regarding product mix	width, lenght, depth, consistency
characteristics of services (affect services)	serv intangibility,inseparability,variability,pershiability
good service:	focus on employee&customers;undrst service profit chain;focus on internal mark and interacti
branding strategy decisions	a)brand equity b)building strong brands(position,name,sponsorship*,development*)
pricing strategies	Customer Value pricing (good value+value added) ; cost based pricing*, competition based*
other factors affecting proce decisions	nature of market; overall marketing strategy, goals, mix
new-product pricing strategies	market skimming pricing; market penetration pricing
strategies to maximize the profits from product mix	prod lind pricing,optional product pricin,captive product pricin,by-product pricin,prod bundle prici
strategies to adjust a proce to customers+situations	discount and allowance;segmented;psychol;promotional;geographical;dynamic;international
geographical prices	FOB origin prices;uniform delivered pricing;zone pricing;basing point pricing
types of retailers	a)amount of service* b)product line sold c)relative proces d)organizational approach
types of retailers - product line sold	specialty stores, depertment stores, supermarkets, convenience stores,superstores
retailer marketing decisions	4 P + segmentation, positioning itp
trends in retailing	slowed economy, retail convergence,rise of megaretailers, nonstore retailing
types of wholesailing	merchant wholesaler(posessed goods),broker(assists in negotiations) and agent; mnfactrs sales branch
decisions of wholesalers	4 P + segmantation, positioning
promotion mix tools	advertising,sales promotions,personal selling, public relations,direct marketing
integrated marketing communications	integrating many communication channels to deliver a clear message about an organization
Steps in effective marketing communication	Identify target audience;determine communication objectv;desiging a message;media;mess source,feedba
consumer readiness stages	awareness, knowledge, liking, preference, conviction, purchase
Methods for setting promotion business	affordable method; percentage of sales method;competitive party method;objective and task method
factors affecing design of the promotion mix	push and pull strategy