An Overview of Strategic Marketing

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An Overview of Strategic Marketing

• Chapter. 1

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Why study Marketing?
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• 1. Production and marketing of goods and services
  are the essence of ____________ life in any
  society. They create a benefit call _________.
  Marketing makes food available when we want it
  (_______) where we want it (________) in
  desired quantities (_______) it help with
  ownership exchange (___________).

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• 2. Marketing Is Important to Business The
  fundamental objectives of most business are
  ____________, __________, and __________.
  Marketing contributes directly to achieving these
  objectives.

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• 3. Marketing Offers Outstanding Career
  Opportunities Between a __ and a ______ of the
  entire civilian workforce in the U.S. performs
  marketing activities. As the global marketplace
  becomes more challenging, companies all over the
  world have to become better ______________________
  .

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• 4. Marketing knowledge and skills enhance
  consumers ____________ and help provide people
  with satisfying goods and services.

5. The cost of marketing activities consumer
approximately _______ of the consumers dollar
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• 6. Marketing is much more fun than __________.

_________
_________
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Marketing

• The process of ____________, _____________,
  ____________, and __________ products to
  facilitate satisfying __________ relationships
  with customers in a _______________ environment.

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Marketing Mix (4Ps)
__________
The Focal Point of all Marketing activities.
________
_______
________
______________________
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__________ Market

• A ____________ group of customers on whom a
  company ______________ its marketing efforts.
• Marketing managers strive to develop a
  marketing mix that matches the ______ of the
  _______________ market.

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Marketing ___________

• Four marketing activities -- ______, _______,
  _________, and _______ (distribution) -- that a
  firm can ____________ to meet the needs of
  customers within its target market.

I. Product it can be a __________, a
______________, or an _________.
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• A. Good A physical, concrete product you
  ________________.

B. Service The application of _______ and
___________ effort to people or objects to
provide ______________ benefits to customers.
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• C. Ideas They include __________, philosophies,
  images, and ______ i.e.,
• Mothers Against Drunk Driving (MADD) is a group
  that works to change attitudes and laws about
  driving under the influence of alcohol. MADD
  primarily markets _______.

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• II. Distribution (Place) To satisfy customers,
  products must be available at the right
  ___________, in the right ________, and in
  _________ locations.

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• III. Promotion This variable is related to
  activities used to ______ individuals or groups
  about an organization and its products.
• Promotional Mix
• ______________, ______________,
  ________________________, ______________________
  ___.

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• IV. Price This variable relates to ____________
  and _____________ associated with establishing
  pricing objectives and policies and determining
  product prices.
• The marketing mix variables are often viewed as
  _______________ because they __________ modified.

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• A change in CoreCams strategy from selling its
  computers through direct mail order to selling
  them in office supply stores as well as direct
  mail is a change in

• Promotion
• Price
• Production
• Distribution
• production

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• When DataComp Corp., a producer of computer
  software, delayed the introduction of its new
  spreadsheet program to modify the package,
  schedule magazine advertisements announcing the
  new product had to be revised. In this case, a
  change in the _______ variable caused changes in
  the ______ variable of the marketing mix.

A. distribution promotion D. promotion
price B. distribution mkt. timing E. product
promotion C. production mkt. timing
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Exchange Process
Something of Value
Money, credit, labor, goods
Exchange The _________________ of goods,
services, or ideas in return for something of
value
______
_______
Something of Value
Goods, services, ideas
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Conditions for an Exchange to Occur (4)

• 1st. Two or more individuals, groups, or
  organizations must participate and each must
  possess ______________ ___________ that the
  other desires.
• 2nd. The exchange must provide a
  ____________________________ to both parties.

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• 3rd. Each must have _______________ in the
  promise of the something of value held by the
  other.
• 4th. Both parties to the exchange must meet
  ________________.

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• Marketing facilitates exchange relationships
  between a buyer and a seller. What is the
  intended outcome of this relationship?
• A. Profits for the seller
• B. A good bargain on the product for the buyer.
• C. Reducing the sellers inventory
• D. Satisfaction for both the buyer seller.
• E. None of the above

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• Marketing efforts are specifically aimed at
  facilitating satisfying __________________________
  ____.
• __________________ Marketing
• Establishing _________________,
  _____________________ satisfying buyer-seller
  relationships.

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Forces of the Marketing Environment
____________
_________
_________
________________
__________
____________
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Marketing Environment Forces (4)

• 1. They help determine ____________ _______ a
  marketing manager can perform certain marketing
  activities.
• 2. They influence customers by affecting their
  ________________, ________________ of living,
  preferences _______ for products.

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• 3. They may influence customers reactions to a
  firms _____________.
• 4. They can fluctuate __________ and
  ________________________.

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• The marketing environment is best describes as
  being ____________ and _______________.

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Marketing Concept

• Is a philosophy stating that an organization
  should try to satisfy customers ________ through
  a ___________________ set of activities that
  allows the organization to achieve it
  _______________.
• It is a way __________________ or a
  ______________ philosophy that affects __________
  efforts of the organization.

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Evolution of the Marketing Concept

• I. Production Orientation __________ was greater
  than _______________.
• Management activities ______________ production
  use labor more _________.
• II. Sales Orientation _______ _______ It was
  believed the most important marketing activities
  were ____________, ______________, and
  ______________.

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• III. Marketing Orientation Business found that
  they must first determine what ___________________
  _ and then _____________________.
• IV. Marketing Orientation Is an
  ____________________ wide effort that includes
  (4)
• _______________ customers needs

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• being _________________ to customers
  ever-changing wants needs.
• generating marketing __________ for use in the
  organization.
• __________________ marketing intelligence
  ______________ department within the organization.

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• Boldnew, the maker of a highly innovative light
  bulb, finds that it has excess inventory. The
  firm increases its advertising budget by 59 and
  doubles it sales staff. This company is operating
  as if it were in which of the following
  orientations?
• A. Production D. Sales
• B. Marketing E. Customer
• C. International

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• American Express implements a program of calling
  its current cardholders to find out what, if any,
  changes they would like to see in the services
  provided. The firm is exhibiting characteristics
  associated with which of the following
  orientations?
• A. Production D. Sales
• B. Marketing E. Social
• C. Development

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• Value a customers _____________ assessment of
  benefits __________ to costs in determining the
  worth of a product.
• The equation a buyer may apply to assess a
  products value is
• Value ___________________ - ___________________
  _______

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• Customer Benefits they include
  ___________________ a buyer receives in an
  exchange.
• Customer Costs
• The products _____________
• The ________________________ spend finding
  purchasing the product
• The ______________ of purchasing and using the
  product

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Marketing ________________

• It is a process of _____________, _____________,
  _____________, and ___________ marketing
  activities.

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• Planning A systematic process of assessing
  _____________________, determining marketing
  __________, developing a marketing ________ and
  __________ for implementation control.
• Organizing Developing the _______ structure of
  the marketing unit.

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• Implementation of marketing plans hinges on
  ______________ of marketing activities,
  ______________ of marketing personnel, and
  effective ______________ within the marketing
  unit.
• Marketing control the process of establishing
  performance ____________, comparing _________
  performance with ______________ standards, and
  ________ the difference between desired and
  actual performance.