MKTG 310 – Principles of Marketing: Full Midterm Cram Sheet

These flashcards cover key concepts in marketing principles, strategic planning, market research methods, and consumer behavior.

Marketing

The process of creating, communicating, delivering, and exchanging offerings that have value for customers, partners, and society at large.

Strategic Planning

The process of developing and maintaining a strategic fit between an organization’s goals, capabilities, and changing market opportunities.

5 Cs of Marketing

A framework to analyze marketing situations, including Company, Customers, Competitors, Collaborators, and Context.

SWOT Analysis

A framework that identifies Strengths, Weaknesses, Opportunities, and Threats related to business.

BCG Product Portfolio Matrix

A tool used to analyze business units/products based on market share and growth rate.

Market Penetration

A growth strategy that aims to increase sales in existing markets using current products.

Marketing Research

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation.

Exploratory Research

Research design used when little is known about a subject; often qualitative.

Descriptive Research

Research design that describes phenomena or relationships, typically through surveys or observations.

Positioning

Designing the offering and image to occupy a distinct place in the target customer’s mind.

STP

Segmentation, Targeting, and Positioning; a core framework of marketing strategy.

Consumer Behavior

The study of how cultural, social, personal, and psychological factors influence buying decisions.

Marketing Mix (4Ps)

The combination of Product, Price, Place, and Promotion strategies used to market a product.

Segmentation

Dividing the market into different groups based on shared characteristics.

Target Marketing

Selecting specific segments to serve based on attractiveness and fit.