Midterm Flashcards by noah presler

Burtons “to build the best snowboard out there”

focused on benefits offered to the customer

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SWOT Analysis

Strengths, weaknesses, opportunities, threats

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ben&jerrys ideals

social responsibility. 3 part mission.

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business firm

privately owned. earns profit

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non profit org

serves customer but does not make profit

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cash cows

large amounts of cash, slow growth. more than they can invest profitably in themselves. Cash goes to overhead and other investments.

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stars

high share, high growth rate. may need more money to fund. often become cash cows

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question marks

low share, high market growth. Need a lot of cashto maintain market share

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dogs

low shares, slow growth. little promis

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Market penetration

strategy to increase sales of CURRENT PRODUCTS in CURRENT MARKETS

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Market Development

CURRENT PRODUCTS to NEW MARKET

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Product Development

NEW PRODUCTS to CURRENT MARKETS

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Diversification

NEW PRODUCTS to NEW MARKETS

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Planning phase of Strategic Marketing Process

SWOT, Market-Product goal setting, Marketing Program

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Implementation phase of Strategic Marketing Process

Obtaining resources, designing marketing org. heirarchy, developing planning schedules, executing the marketing program

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Evaluation Phase of Strategic Marketing Process

compares the results with goals

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Exclusive dealing

arrangments with reseller to handle only their products. not competitiors

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Requirement contracts

requires buyer to purchase certain amount for a certain time period

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territorial distributorships

manufacturer gives distributer sole rights to sell in an area

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tying arrangment

buy one, must buy the other

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consumer bill of rights

right to safety, to be informed, to choose to be heard

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moral idealism

considers certain individual rights/duties as universal

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utilitarianism

focuses on if benifits exceed costs, behavior is ethical

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triple bottom line

orgs need to improve life, the planet and make profit

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evaluative criteria

the objective attributes of a brand and subjective like brand prestige

consideration set

the group of brands that are considered

reciprocity

industrial buying practice where organizations agree to by each other's good. Legal, but Justice Department disapproves

Supply Partnership

when a buyer and its supplier adopt mutually beneficial objectives, policies and procedures to lower costs or increase value of products.

new buy

fiirst time buyer of a product/service

straight rebuy

reordering existing product from list of acceptable suppliers

modified rebuy

largely the same, slight different

make buy decision

during problem recognition.

value analysis

durring information search- appraisal of design quality and preformance of a product

multidomestic marketing strategy

different product variations,brand names and ad programs in diff countries

global marketing strategies

standarizing marketing activities when there are culutural similarities. adapting where differences

global brand

market under same name in all countries

international firms

trades in diff countries as extension of strategyt at home

multinational firms

makrets to each part of world diff.

transnational firms

views world as one giant market

Exporting as market entry

producting goods in one country, selling in another

licensing as martket entry

company offeres the right to a trademark/patent/trade secret in return for a royalty/fee

joint venture

when local and foreign firms work together to create local

direct investment

all on your own

product extension

same product, multiple coiuntries

product adaption

changing product to make more appropriate for country

product invention

totall new products

primary data

facts/figures collected for the project

secondary data

have already been recorded

product item

specific product that has a unique brand

product lime

is a group of products or service items

product mix

consist of all of the product lines offered by orgs

product calss

entrie product category

product form

variations within the product calss

multiproduct branding

one name for all prodcuts within product class (ex. microsoft/GE)

multibranding strategy

giving each product distinct name

private branding strategyt

manufacturers products but sells them under the brand name of a wholesaler/retailer. (items at RadioShack)

Mixed Braning Strategy

where a firm markets product under its own name and that of a resaler because the two segments are different.

pure competition

many sellers of similar product

monopolistic competition

many sellers competing with substitutable products in price range (ie coffee/tea)

oligopoly

when a few orgs control entire industry

pure monopoly

one firm owns all

values

A society’s personally or socially preferable modes of conduct or states of existence that tend to persist over time.

beliefs

A consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people