test 1 – chapter 2

core values
core values are the fundamental, passionate, and anduring principles that guide an organization.
market share
market share is the ratio of a firm’s sales to the total sales fo all firms in the industry.
Marketing Dashboard
the marketing dashboard is the visual display of essential marketing information.
Points of difference
points of difference are those characteristics of a product that make it superior to competitve substitues.
what are the 4 marketing mix elements?
the 4 marketing mix elements are:
product, price, promotion, & place.
product
product features brand name, packaging, service, & warranty
Price
price includes list price, discounts, allowances, credit terms, & payment period
promotion
promotion includes advertising, personal selling, pulic relations, sales promotion, & direct marketing
place
place includes outlets, channels, coverage, transportation & stock level
Planning Gap
page 38 in textbook