MARKETING

Which definition is right ?

 In short, they all are. They all try to embody the essence of marketing:

• Marketing is about meeting the needs and wants of customers;
• Marketing is a business-wide function – it is not something that operates alone from other business activities;
• Marketing is about understanding customers and finding ways to provide products or services which customers demand

To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:

 KEY TERMS FOR MARKETING

 

Hi Friends ,

As we have application Level Questions there are many important terms that we should know.   

I have tried to limit my list to the top terms used in marketing.  I know there are a large number of terms but make sure that you know what they mean and we should do well. .

Marketing concept

marketing mix -- 4 Ps

marketing myopia
marketing strategy
target market
Demarketing

General demarketing, selective demarketing

social marketing
relationship marketing
convenience goods, shopping goods, specialty goods

environmental marketing
price discrimination (Robinson-Patman Act)
FTC
FDA
CPSC
psychographics --AIO
perception
classical conditioning

stimulus generalization
contiguity (association)
instrumental conditioning
reinforcement
perceived risk --social risk, psychological risk, etc.
innovator, laggard

New Product Adoption Model (adoption process)
opinion leader, buzz marketing
reference group
social class --UU, UL, etc.
compatibility, complexity, trialability, etc.
demographics
family life cycle

niche marketing

ethnic marketing
market segmentation
benefit segmentation
mission statement

marketing plan
market penetration
market development, product development

cash cow, stars, dogs,..
sales forecasting
marketing information system
symptom vs. problem in marketing research
problem of low rate of response