Marketing Principles, Exchange Dynamics, and Value Creation

Flashcards covering core marketing definitions, societal marketing, civil economy, exchange classifications, market structures, and financial/benefit formulas from the lecture notes.

How does Treccani define a method (metodo)?

The procedure followed in carrying out an activity according to a pre-established order and plan, in view of achieving a specific goal.

What is a technique (tecnica) in marketing, and what are two examples?

A technique is a set of rules on which the practice of any manual or intellectual activity is based; examples include demand segmentation and brand positioning.

What is a tool (strumento) in marketing, and what are three examples provided in the lecture notes?

A tool is an instrument, device, or mechanism necessary to complete a given operation or carry out an activity; examples include packaging, an app, and a banner.

What is the core semantic meaning of marketing management in the 21st century?

Marketing management refers to market management—a category of managerial choices and a philosophy of managing exchange relationships aimed at generating, retaining, and enhancing customers while respecting and promoting dominant social values.

On what two core elements do the efficacy and efficiency of the marketing method depend?

They depend on (i) the solidity of the architecture supporting the method, and (ii) the strength of the techniques and tools used in its application.

How did Philip Kotler define marketing?

Philip Kotler defined marketing as "the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit."

What is the official definition of marketing provided by the American Marketing Association (AMA)?

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

What document was promulgated by the Società Italiana Marketing (SIM) in 2020?

The Società Italiana Marketing promulgated its definition of marketing in a document called the "Manifesto del marketing".

What is societal marketing?

A concept introduced in the 1970s that expands market choices to consider the long-term overall well-being of society rather than focusing strictly on corporate profit and customer needs.

Who are recognized as the two founding fathers of civil economy (economia civile) in 18th-century Naples?

Antonio Genovesi and Giacinto Dragonetti.

How do contemporary scholars define marketing from an interdisciplinary perspective?

Scholars define marketing as an interdisciplinary theory of competitive markets that embeds fields such as psychology, sociology, semiotics, design, neuroscience, computer science, mathematics, law, and ethics into managerial economics.

What is a General Purpose Technology (GPT)?

A fundamental technology that exerts a transformative impact across multiple economic sectors, driving innovation and large-scale social changes.

What are the three main characteristics that define a General Purpose Technology (GPT)?

Broad applicability, the capacity to improve over time, and the ability to stimulate the development of other innovations.

What examples of General Purpose Technologies are listed in the lecture notes?

The steam engine, electricity, the Internet, artificial intelligence, movable type printing, and numerical control machines.

How did Adam Smith describe the fundamental driver of the economy in the late 18th century?

Adam Smith identified it as the natural inclination of human beings to truck, barter, and exchange one thing for another.

What is Fast Moving Consumer Goods (FMCG) or largo consumo?

A commercial product category of packaged (grocery) or unpackaged (fresh/bulk) items spanning food, beverage, toiletry, and household goods.

What is MEPA (Mercato Elettronico della Pubblica Amministrazione)?

A digital platform managed by Consip that allows the Public Administration to acquire goods, services, and works below EU thresholds rapidly and transparently.

What defines a buyer's market (mercato del compratore)?

A market state where the power to set the purchase or sale price resides in the hands of the buyer, typically caused by an overabundance of product supply.

Why does the Business-to-Government (B2G) market grant absolute exchange power to the buyer?

Because exchange takes place in a heavily regulated environment dominated by public tenders (gara d'appalto), giving the buying entity ultimate selection power.

What approach must a producer adopt in a Business-to-Business-to-Consumer (B2B2C) market structure?

An integrated approach that simultaneously targets and wins over intermediate clients (distributors) and final consumers.

What is the formula for Total Revenue (RICAVI TOTALI) in a profit-oriented firm?

$$\text{RICAVI TOTALI} = P_i \times QV_i$$

What rule of good management governs non-profit organizations regarding revenues and costs?

Non-profit organizations aim for revenues to equal costs ($\text{RICAVI} = \text{COSTI}$) and reinvest any profits directly into their organizational activities without distributing them to members.

What is the ultimate goal pursued by consumers when engaging in an exchange?

Increasing their overall well-being by trading current or future available money for goods and services that solve daily problems and enhance quality of life.

What is the equation for Total Consumer Benefits (BENEFICI TOTALI)?

$$\text{BENEFICI TOTALI} = \text{BENEFICI FUNZIONALI} + \text{BENEFICI SIMBOLICO-EMOZIONALI}$$

What is the primary difference between a functional benefit and a symbolic-emotional benefit?

A functional benefit relates to technical-performance attributes and operational differences (e.g., hard disk storage capacity or battery life), whereas a symbolic-emotional benefit refers to non-performance attributes that evoke feelings, status, or aesthetic appeal.