Contemporary Marketing 15th edition Chapters 1-4

Utility
the want-satisfying power of a good or service.
Marketing Concept
Company wide consumer Orientation for achieving long-term success.
Relationship Marketing
Development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit.
Marketing Myopia
Management’s failure to recognize the scope of its business
Strategic Alliances
partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.
Ethics
Moral standards of beehavior expected in a society.
Social Responsibility
Marketing philosophies, policies, procedures, and actionns whose primary objective is to enhance society.
Strategic Planning
Process of determining an organizations primary objectives and adopting courses of action that will achieve these objectives.
Tactical Planning
Planning that guides the implementation of activivties specified in the strategic plan.
Mission
Essential purpose thta differentiates one company from another.
Objectives
Guide the development of marketing objectives and plans.
SWOT Analysis
Analysis that helps planners compare internal organizational strenghths and wekanesses with external opportunities and threats.
Marketing Mix
Blendig of the four-strategy elements (product, distribution, promotion, and pricing) to fit the needs and preferences of a specific target market.
Enviormental Scanning
Process of collecting information about the external marketing enviorment to identify and interpret potential trends.
Federal Trade Commision
Has broadest regulatory powers over marketing.
Consumerism
Social force within the enviorment that aids and protects the consumer by exerting legal, moral, and economic pressures on business and government.
Marketing Ethics
Marketers standards of conduct and moral values.
Social Responsibility
Marketing philosophies, polocies, procedures, and actions that have the enhancement of societys welfare as a primary objective.
E-Business
Firm that targets customers by collecting and analyzing business information, conducting customer transactions, and maintaining online relationships with customers.
E-Marketing
Strategic process of creating, distributing, promoting, ad pricing goods and services to a target market over the internet or through digigtal tools.
Business-To-Consumer(B2C) E-Marketing
Selliing directly to consumers over the internet, also called E-tailing.
Electronic Storefront
Company web site that sells products to customers.
Phishing
High-tech scam that uses authentic looking email or pop up messages to get unsuspecting victims to reveal personal information.
Spam
Popular name for junk E-mail.
Search Marketing
Paying search engines, such as google a fee to make sure that the company’s listing appears toward the top of the search results.
Consumer behavior
is the process through which the ultimate buyer makes purchase decisions
Culture
Values, beliefs, preferences, and tastes handed down from one generation to the next.
Subcultures
Groups within a culture that have their own modes of behavior
Social influences
group membership influences an individuals purchase decision and behavior in both overt and subtle ways
reference groups
People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior, values, and conduct, such as family, friends, or celebrities.
perception
Meaning that a person attributes to incoming stimuli gathered through the five senses.
Attitudes
Person’s enduring favorable or unfavorable evaluations, emotions, or action tendencies toward some object or idea.
learning
Knowledge or skill that is acquired as a result of experience, which changes consumer behavior.
self concept
Person’s multifaceted picture of himself or herself.
cognitive dissonance
Imbalance among knowledge, beliefs, and attitudes that occurs after an action or decision, such as a purchase.