Marketing definithion

Marketing

activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing Management

art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

B –TO –B

BUSINESS-TO-BUSINESS-MARKETING (Customer is Company) Marketing activities between companies

B –TO –C

BUSINESS-TO-Consumer-MARKETING Marketing activities between company and consumers (Customer is Consumer)

C –TO –C

Consumer-TO-Consumer-MARKETING (Consumer Seller & Buyer) Marketing activities between consumers

Needs

basic human requirements such as for air, food, water, clothing, and shelter.

Wants

when directed to specific objects that might satisfy the need.

Demands

are wants for specific products backed by an ability to pay. Demands

Value

is primarily a combination of quality, service, and price

Satisfaction

reflects a person’s judgment of an offerings’ perceived performance in relationship to expectations.

Marketing Mix

Product Price PROMOTION PLACE

Holistic marketing

orientation includes four pillars which are Internal Marketing, Integrated Marketing, Relationship Marketing and Performance Marketing.

The marketing environment

includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Microenvironment

consists of the actors close to the company that affect its ability to serve its customers.

Macroenvironment

consists of the larger societal forces that affect the microenvironment.

Marketing information system (MIS)

refers to the people and procedures dedicated to; • Assessing information needs, • Developing the needed information, • Helping decision makers to use the information to generate and validate actionable customer and market insights.

Marketing research

is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Consumer buyer behavior

is the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.

Culture

is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.

Business buyer behavior

refers to the buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.

Straight rebuy

is a buying situation in which the buyer routinely reorders something without any modifications. Straight rebuy

Modified rebuy

is a buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.

Market segment

has been defined as «A group of customers who share a similar set of needs and wants».

Multicultural marketing

is targeting different ethnic and cultural segments having different needs and wants in order to satisfy those needs and wants. Multicultural marketing

Positioning

is the act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market.

value proposition

result of positioning is the successful creation of a customer-focused

value proposition

a cogent reason why the target market should buy a product or service.

Points-of-difference (PODs)

are attributes or benefits that consumers; • strongly associate with a brand, • positively evaluate, and • believe they could not find to the same extent with a competitive brand.

Points-of-parity (POPs)

are attribute or benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands.

brand mantra

is a three-to-five words articulation of the heart and soul of the brand and is closely related to other branding concepts like “brand essence” and “core brand promisebrand mantra

A product

is anything that can be offered to a market to satisfy a want or need.

Design

is a way to differentiate and position products & services.

Design

is the totality of features that affect the way a product looks, feels, and functions to a consumer. is the totality of features that affect the way a product looks, feels, and functions to a consumer.

A product system

is a group of diverse but related items that function in a compatible manner (iphone and its headsets, cables, docks, cases, power and car accessories)

A product mix (also called a product assortment)

is the set of all products and items a particular seller offers for sale

A service

is any act or performance one party can offer to another that is essentially intangible and does not result in the ownership of anything.