| A | B |
|---|
| Marketing management | process is the process of planning marketing activities, directing the implementation of the plans, and controlling these plans. |
| Marketing Strategy | THIS specifies a target market and a related marketing mix |
| Marketing Mix | The variables that a company puts together in an attempt to satisfy a particular set of customers that it wants to appeal |
| mass marketing | THIS assumes that everyone is basically the same. |
| target | THIS type of marketing is limited to fairly homogeneous market segments |
| Difference | The ______________ between target Marketing and mass Marketing is that TM is tailored to fit some specific target customers while mass marketing aims at everyone with roughly the same marketing mix. |
| Customer | the target of a marketing mix. |
| product | variable of the marketing mix may involve a physical good, a service, or a blend of both |
| place | the four Ps of the marketing mix are retailers, wholesalers, warehouses, and transportation firms associate |
| personal selling | form of promotion involves direct spoken communication between sellers and potential customers that may happen face-to-face, over the telephone, or via an online conference |
| publicity | an unpaid form of communication |
| Mix | The marketing _____ uses needs of a target market to determine the appropriate combo, Promotion includes personal selling, mass selling, and sales promotion, a channel of distribution does not have to include any intermediaries and the term “product” can refer to services as well as physical goods |
| sales promotion | “dollar-off coupons” are a specific example of this type of promotion |
| operational decision | this day to day type of decision could be about moving a mobile unit from place to place based on traffic patterns |
| marketing program | blends all of the firm’s marketing plans into one overall plan. |
| equity | The expected earnings stream of a firm’s current and prospective customers over some period of time |
| acquisition cost | marketing metrics is used to calculate customer equity and customer lifetime value |
| breakthrough opportunity | developing an innovative and hard-to-copy marketing strategy |
| hit or miss | avoid THIS when developing a strategy by using a logical process for marketing strategy planning |
| SWOT analysis | The purpose of THIS is to to develop screening criteria that will help a company identify what marketing strategy to pursue |
