Marketing Management for NOCTI

product oriented
An approach to business that centers on capturing business by focusing on creating and manufacturing better products at lower prices.
sales oriented
Companies emphasized widespread distribution and promotion in order to sell products and services
customer oriented
describes a firm in which all decisions are made with a conscious awareness of their effect on the consumer.
marketing concept
the idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives
market
the world of commercial activity where goods and services are bought and sold
market research
research that gathers and analyzes information about the moving of good or services from producer to consumer
target markets
Identified segments of the market that a business wants to have as their customers.
marketing mix
The blending of four marketing elements-product, Place (distribution), price, and promotion
product
an artifact that has been created by someone or some process
price
the high value or worth of something
distribution
Shipping and transportation, delivery to customers.
promotion
encouragement of the progress or growth or acceptance of something
marketing plan
A written document that acts as a guidebook of marketing activities for the marketing manager
industrial goods
physical products purchased by companies to produce other products
consumer goods
goods (as food or clothing) intended for direct use or consumption
convenience goods
Inexpensive products that are purchased regularly and require little time and effort for purchase decisions.
shopping goods
Items purchased after comparing prices and features.
specialty goods
goods that are not mass-produced but rather assembled individually or in small quantities
Marketing Mix
The blending of four marketing elements: Product, Price, Place (distribution), Promotion
Marketing Objective
a statement of what is to be accomplished through marketing activities
Marketing plan
a written document that acts as a guidebook of marketing activities for the marketing manager
Marketing Strategy
a company’s plan that identifies how it will use marketing to achieve its goals
product development
a marketing strategy that entails the creation of new products for present markets
green marketing
marketing efforts to produce, promote, and reclaim environmentally sensitive products
cause related marketing
Commercial activity in which businesses and charities form a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaign
generation x
the generation following the baby boom (especially Americans and Canadians born in the 1960s and 1970s)
generation y
People born between 1979 and 1994
global marketing standardization
Production of uniform products that can be sold the same way all over the world
global marketing
Marketing that targets markets throughout the world