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marketing

organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships benefiting an organization or its shareholders

People marketing

speakers or performers drawing in fan base

Event marketing

the promotion of an event to a target audience, aimed at generating interest and engagement.

Production era

1900s a time period focusing primarily on manufacturing efficiency and product availability, where consumer choice was limited and demand outstripped supply.

Selling era

a time period from the 1920s to the 1950s characterized by aggressive sales techniques and the belief that consumers needed to be coaxed into buying products.

Marketing era

the period from the 1950s to the 1990s that focused on understanding and meeting customer needs, emphasizing customer satisfaction and building relationships.

relationship era

the period from the 1990s to the present, emphasizing long-term customer engagement and loyalty, prioritizing personalized experiences and interactions.

Target market

a specific group of people most likely to buy something

Marketing plan

Formal document that defines marketing objectives and the specific strategies for achieving these objectives.

The four ps q

product, price, place, promotion

Promotion strategy

response to both customers needs and strategies

consumer buyer

how people act buying products for their own consumption

business buyer

how people act when theyre buying products for other products

primary data

new data s

secondary data

existing data

Mass customization

Creation of products tailored for individual consumers on a mass basis.

consumer products

products purchased for personal use or consumption

Business products

products purchased to use directly or indirectly in the production of other products

product time

group of products closely related, either in how they work or the customers they serve

brand

a products identity, such as name, symbol, design that sets it apart from others

discontinuous innovation

brand new ideas changing how people live

Dynamically continuous

marketed changes for existing products

continuous innovation

slight changes

introduction phase

low sales, rising awareness of the object

growth

sales rise, profits peak

maturity

sales peak, competition increases

decline

sales and profit decline

positioning statement

brief statement articulating how the marketer would like the target market to envision a product relative to competition

distribution strategy

plan to deliver the right product to the right person at the right time.

retailer

distributers that sell products directly to the ultimate users, typically in small quantities, that are sold in the premeries.

non-store retailers

direct selling, vending machiens

suply chain mnanagement

planning and coordingating the movemnet of products along the supply chain, from raw material to final consumer

logistics

a subset of supply chain management that focuses largely on the tactics involved in moving products along the supply chain

penetration pricing

new product pricing strategy that aims to capture as much of the marekt as possible through rock bottom pricng

EDLP everyday low pricing

long-term discount pricing, designed to achieve profitability through high sales volume

High low pricing

strategy designed to drive traffic to retail stores by special sales on a limited number of products, and higher everyday prices on others

skimming

offering new products at a premium price