| A | B |
|---|
| tactic | way a product or sevice is differentiated in thr minds of customers |
| Marketing Mix | Product, place, price, promotion |
| Marketing Intelligence | Info gathered about competitors |
| Customers | These people can be an important source of information even if they don't buy from your company |
| Raw Data | Facts and recorded measures that have been gathered |
| market concept | focuses attention on customers and long-term profitability |
| product portfolio | THIS which is all of the products a company has available must continually be UPADATED and CHANGED |
| Concert tickets | Thre prices of these are at an all time high due to the record demand by fans |
| Mass marketing | selling to everyone rather than targeting a specific group |
| Strategy | THIS section of the marketing plan describes the marketing mix for a company. |
| Planning | THIS is an ongoing process for an organization |
| Internet | Using THIS to obtain public information about companies is a cost effective and efficient research method. |
| tactic | A strategy can be developed after this is determined |
| promotions | the 4 types of this are advertising, personal selling, sales promotions, and publicity |
| PLANNING | This is essential for an organization’s success and is an ongoing event for an organization |
| Distribution | THIS involves how the product or service will be made available to customers. |
| Test marketing | determines how customers will react to a new product |
| product portfolio | is the entire line of products offered by a company |
| Competitors | THESE are attracted to products that sell quickly, products that perform well in the marketplace and to products that are generating large sales |
| Internet | This is an efficient means of collecting consumer data |
| Marketing intelligence | is information gathered about competitors |
| Customers | can be a rich source of information even when they do not buy from your company shop around for the best products and prices may volunteer information about the competition through a casual conversation |
| predictions | Raw data ARE FACTS, NOT these future guesess |
| marketing | This concept focuses on customers long-term profitability, coordination of all six of the core marketing standards |
| mass market | broad group of customers |
| mission statement | identifies the nature of the business and the reason it exists |
| trade shows | major events where people in a related industry meet to show their products, exchange ideas, and learn about the latest trends |
| applied | research is conducted to solve problems |
| touchpoints | any means at which the business makes contact with customers |
| marekting plan | a precisely written document that describes the tactics and strategies that will be used to market a product or service |
| test marketing | trying out the sales potential for a new product in a small market area prior to its final release nationwide. |
| strategies | the processes by which tactics are implemented |
| marketing intelligence | is information gathered about competitors |
| interpretation | involves explaining the information so that it has meaning and drawing conclusions that relate to the defined marketing research problem |
| tactic | the way a product or service is differentiated in the minds of customers from competitors’ products. |
| product portfolio | All of the products a company has available for customers at any one time make up the |
