Marketing - correct answer the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have
... [Show More] value for customers, clients, partners, and society at large
Marketing Concept - correct answer The business orientation model that involves creating value and satisfying consumer needs
Marketing Mix (4 P's) - correct answer Product, Price, Place, Promotion
Marketing Plan - correct answer A tool used to set up various elements of a company's marketing strategies and develops an accompanying tactical plan
Marketing Strategy - correct answer Describes what the business wants to achieve in its marketing efforts
SWOT analysis - correct answer a tool an organization used to analyze its strengths, weaknesses, opportunities, and threats
Business to business (B2B) - correct answer business marketing to other businesses, commonly manufacturers to wholesalers, and wholesalers marketing to retailers
Business to consumer (B2C) - correct answer businesses marketing their products or services directly to consumers
High Brand Equity - correct answer when consumers have a high perception of the brand as a whole, are more loyal, and less likely to be swayed by competitors' marketing efforts, resulting in higher profit margins, better support of delivery systems, and more brand extension opportunities.
Marketing Information Systems (MIS) - correct answer A computerized process that determines what information is needed, how to collect it, analyze it, and use it for effective market planning.
Boston Consulting Group (BCG Matrix) growth-share matrix - correct answer A portfolio-planning model based on the premise that an organizations products or services can be classified into four categories in relation to its largest competitor. The four categories are based on combinations of market growth and market share
psychographic segmentation - correct answer involves the use of psychological, sociological, and anthropological factors to segment markets
Quantitative Strategic Planning Matrix (QSPM) - correct answer A high-level strategic management tool that evaluates feasible alternative actions that a company can take. It is usually done after other situation analysis have been completed and when managers must prioritize possible strategies.
Situation Analysis - correct answer provides a sense of where an organization sits related to the quality and relevance of its products, where it stands against its competitors, and where the market itself is going; A thorough situation analysis involves an accurate assessment of internal and external factors
SMART goals - correct answer Acronym that stands for specific, measurable, achievable, relevant, and timely, and pertains to formulation of organizational objectives that are clear and measurable
SWOTT Analysis - correct answer strengths, weaknesses, opportunities, threats and trends analysis used as an analytical tool for the identification and categorization of internal and external factors; strengths and weaknesses in SWOTT analysis are termed as internal factors while opportunities and threats termed as an external factor
Ansoff Matrix - correct answer a business tool that assesses four key considerations when determining the right marketing strategy and helps marketers evaluate the potential risk and reward involved.
Tactics - correct answer short term promotional activities designed to increase sales in a relatively short time
Targeting - correct answer An organization focusing its marketing efforts and directing its marketing plan toward specific markets [Show Less]