MGT 103 Midterm 1 Ehrich
4 P's of Marketing
Product, Price, Place, Promotion
value proposition
Benefits that an organization promises to the customer
Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
0:01
/
0:15
Full screen
Brainpower
Read More
marketing concept
Considering a customer's needs, using integrated marketing in order to profit through customer
satistfaction
production era
a management philosophy that emphasizes the most efficient ways to produce and distribute
products
sales era
a managerial view of marketing as a sales function, or a way to move products out of
warehouses to reduce inventory
relationship era
a business approach that prioritizes the satisfaction of customers' needs and wants
,Triple Bottom Line
Profit, People, Planet: Financial Social, and environmental consequences of business decisions
For-profit organizations
often called a business firm, is a privately owned organization such as Target or Nike that
serves its customers to earn a profit so that it can survive
organization
a legal entity that consists of people who share a common mission
non-profit organization
non-governmental organization that focuses on providing a service rather than a profit
government agency
provides a specific service to its constituents (Census Bureau)
corporate level
top management directs overall strategy for the entire organization
Strategic business unit (SBU)
a subsidiary of an organization that targets a specific market
functional level
a more specific group of specialists that serve certain functions (e.g. finance department,
marketing department)
strategy
an organization's long-term course of action designed to deliver a unique customer experience
while achieving its goals
Core Values
the fundamental, passionate, and enduring principles of an organization that guide its conduct
over time
, Organizational culture
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the
members of an organization
mission statement
a formal declaration that describes the firm's overall purpose and what it hopes to achieve in
terms of its customers, products, and resources. It should be clear, concise, and meaningful and
inspirational
competencies (strategic direction)
what do we do well?
customers (strategic direction)
who can we serve?
competitors (strategic direction)
who else serves these customers in a similar fashion?
stars (BPA)
high share of high growth
cash cows (BPA)
generate lots of cash, high share of low growth
question marks (BPA)
low share of high growth
dogs (BPA)
low share of slow growth
market penetration strategy
seek to increase sales of existing products to existing markets
4 P's of Marketing
Product, Price, Place, Promotion
value proposition
Benefits that an organization promises to the customer
Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
0:01
/
0:15
Full screen
Brainpower
Read More
marketing concept
Considering a customer's needs, using integrated marketing in order to profit through customer
satistfaction
production era
a management philosophy that emphasizes the most efficient ways to produce and distribute
products
sales era
a managerial view of marketing as a sales function, or a way to move products out of
warehouses to reduce inventory
relationship era
a business approach that prioritizes the satisfaction of customers' needs and wants
,Triple Bottom Line
Profit, People, Planet: Financial Social, and environmental consequences of business decisions
For-profit organizations
often called a business firm, is a privately owned organization such as Target or Nike that
serves its customers to earn a profit so that it can survive
organization
a legal entity that consists of people who share a common mission
non-profit organization
non-governmental organization that focuses on providing a service rather than a profit
government agency
provides a specific service to its constituents (Census Bureau)
corporate level
top management directs overall strategy for the entire organization
Strategic business unit (SBU)
a subsidiary of an organization that targets a specific market
functional level
a more specific group of specialists that serve certain functions (e.g. finance department,
marketing department)
strategy
an organization's long-term course of action designed to deliver a unique customer experience
while achieving its goals
Core Values
the fundamental, passionate, and enduring principles of an organization that guide its conduct
over time
, Organizational culture
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the
members of an organization
mission statement
a formal declaration that describes the firm's overall purpose and what it hopes to achieve in
terms of its customers, products, and resources. It should be clear, concise, and meaningful and
inspirational
competencies (strategic direction)
what do we do well?
customers (strategic direction)
who can we serve?
competitors (strategic direction)
who else serves these customers in a similar fashion?
stars (BPA)
high share of high growth
cash cows (BPA)
generate lots of cash, high share of low growth
question marks (BPA)
low share of high growth
dogs (BPA)
low share of slow growth
market penetration strategy
seek to increase sales of existing products to existing markets
