MAR 3023 FSU BRADY EXAM 1

What is marketing?
the answer to why you buy a product
View on marketing
The aim of marketing is to know and understand customers so well the product or service fits them and sells itself.
what is a core marketing function
product development
What is the first goal of marketing?
identify customers needs
what is the primary goal of marketing
develop good products, have them price appropriately, and deliver them to consumers
misconceptions of marketing
its not just advertising and promotion (people only see this through their lense)

the issue with this is that companies will try to promote their bad products as better than what they are….

why is marketing needed
because its timely and powerful

time…imitators

powerful….people trust brands that are advertise

a firm needs to perform the marketing mix (the four P’s to be really successful)
product, price, place, promotion
what are the eras of market history
Simple Trade Era
Production Era
Sales Era
Marketing department Era
Marketing company era
Relationship Marketing Era
Societal Era
what are the types Marketing orientation
customer centric marketing
relationship marketing
customer relationship marketing
green marketing
what are the 4 p’s/marketing mix
product, price, place, promotion
Macro-Marketing Core Strategies
creating value and relationships
segmenting markets
identifying opportunities
list the types of opportuinties
market opportunity and core competency
people you should know and why
warren buffet
Caleb bradham

express the benefit of diversity

Swot analysis
match strengths and opportunities
covert threats to opportunities
convert weaknesses to strengths
what makes up the internal environment
market opportunity
strategic business units (SBUs)
what are the origins of a marketing strategy
mission statement (includes vision)
corporate strategy
business unit strategy
marketing strategy
marketing mix elements
empowerment
part of the internal marketing category….this gives employees powers to do many tasks like act immediately to obtain satisfaction
what makes up the environmental forces within the external environment
competitive, sociocultural, technological, economic, legal/regulatory, political
what makes up the competitive forces
brand, production, generic, and total budget competitors
what makes up the sociocultural force
demographics/diversity and characteristics, cultural values and consumerism
what makes up the competitive structures
monopoly, oligopoly, monopolistic, pur competition
how does corporate social responsibility, social responsibility, marketing citizenship relate
the main umbrella is corporate social responsibility and social responsibility is a sub category of that which marketing citizenship is a sub category of that
dimension of social responsibility
economic
legal
ethical
philanthropic
what makes up the social responsibility issues
sustainability,
consumerism,
community relations