Marketing Management - Chapter 1 & Change the World Initiative

Vocabulary flashcards covering core concepts from MARK 30153 Chapter 1 and the Change the World Initiative project phases.

Marketing (AMA Definition)

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

Exchange

The act of people giving up something to receive something else they would rather have.

Two Facets of Marketing

1) A philosophy, attitude, perspective, or management orientation that stresses customer satisfaction; and 2) an organizational function and set of processes used to implement this philosophy.

The Marketing Concept

The philosophy that customer satisfaction is key to achieving organizational goals by identifying customer needs and wants and delivering superior value better than competitors.

Production Orientation

A marketing management philosophy focused on efficiency and availability.

Sales Orientation

A marketing management philosophy focused on aggressive selling and promotion.

Market Orientation

A marketing management philosophy focused on putting customer needs first.

Societal Marketing Orientation

A marketing management philosophy that balances profits, customer needs, and society.

DISCOVER Phase (Weeks 1–2)

The initial project phase with the objective to identify a problem worthy of the team's time, talent, and effort, due Sunday, Sept. 6 by 11:59 pm.

DESIGN Phase (Weeks 3–5)

The project phase focused on developing a marketing strategy capable of creating measurable change through detailed plans such as SWOT, target audience, marketing mix, budget, and metrics.

ACT Phase (Weeks 6–12)

The longest project phase, focused on executing the approved strategy, engaging stakeholders, adapting, and collecting evidence.

MEASURE Phase (Weeks 13–14)

The project phase dedicated to analyzing outcomes, documenting impact, compiling an evidence archive, and preparing a Legacy Portfolio.

PRESENT Phase (Week 15)

The final project phase with the objective of communicating impact through a twenty-minute recorded team presentation, supporting visuals, and evidence of tangible results.

Weekly Action Brief

A one-page document replacing a traditional weekly report, designed to keep teams focused on execution, evidence, course concepts applied, challenges, and next actions.