Marketing Exam I (FALL2025)

Production Orientation

A. Focuses on building cheap/quick production of goods

B. They DO NOT focus on the customers needs

Sale Oriented Approach

Aggressive sale techniques

EX) real estate, car dealerships, and credit cards

Production & Sales Similarities

They both focus on..

- producing

- selling

Marketing Concept

- Needs/wants of customers focuses on strategies to reach their customers

- DOES NOT focus on aggressive advertising strategies

- ex) store wide sales, loyalty program. IG/YouTube/TV Ads/ Anything on social media

Customer Oriented

Companies that focus on taking care of their customers at all costs

ex) hotels, restaurants, airlines, uber/lyft

SBU (Strategic Business Unit)

- division of a larger company

- is each smaller unit responsible for their own profits/loss? YES

- ex)

Pepsi --> Dr. Pepper

Amazon --> Amazon Prime

Market Penetration

• Measure of how much product/service is being used by customers compared to total estimated market

• marketing penetration % = # of customs DIVIDED BY target market size

- ex) Apple phones in class: everyone has an iphone: market penetration: 100%

Product Development

developing new product/tweaking any existing product and offering it to current or new markets

Diversification

- already established company a brand new product into the market

- ex) Amazon started out with just books, then started to sell... everything

Harvest

- When you want to increase the shortterm cash return w./out concern for the long run

- ex) fidget toys/spinners, hoverboards, basically... "trends that die"

Problem Child SBU (Strategic Business Unit)

- Getting ready to possibly drop them

- have a relatively low market share in a market that is growing quickly

SWOT Analysis

a planning tool used to analyze an organization's:

S: strengths

W: weaknesses

O: opportunities

T: threats

Competitive Advantage

- an advantage over competitors that can help a product/service

- ex) location, price, quality, employees, basically anything can be an advantage depending on the company

Marketing Objective

- Goals!

- Expected to accomplish through ads/marketing

Is anything that's legal... ethical?

Not Always

Caustic Ethical Theory

- figuring out case by case

- everything is NOT handled the same way

Philanthropy

- Charitable donation to public causes from on an individual

Cause Marketing

- Company that gets involved w/ a nonprofit

- ex) When you go to a store and they say the line, "Would you like to donate $$ to this blah blah cause?"

Green Marketing

- marketing efforts to produce, promote, and reclaim environmentally sensitive products

- ex) paper straws and bags

Niche Market

- Small segment of a market (concentrated)

- They do well because they LACK COMPETITION (most important one)

- also bc they are more high prices and they know their target audience