__________ provide both immediate satisfaction and long-run benefits to customers.

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Which pricing strategy is both unethical and illegal?
How many commandments did the Jews eventually write to supposedly govern their moral behaviors?
Should marketers tell the truth?
When engaging in market segmentation What is the primary goal of marketers?

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Question	Answer
Needs	States of felt deprivation
What is marketing?	The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
Wants	The form human needs take as shaped by culture and individual personality
Demands	Human wants that are back buy buying power
Market offering	products, services, information, or experiences offered to a market to satisfy a need or want
Marketing myopia	Mistake of paying more attention to product then benefits and experience
marketing management	Art and science of choosing target markets and building profitable relationships with them.
Production Concept	The idea that consumers will favor products that are available and highly affordable and there for organizations should focus on improving production and distribution efficiency
Product Concept	The idea that consumers will favor products that offer most quality, performance, and features there for organizations should focus on improving product improvements
Selling concept	The idea that consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort
Marketing concept	Management philosophy according to which a firm's goals can be best achieved through identification and satisfaction of the customers' stated and unstated needs and wants.
Societal Marketing concept	The idea that a company's marketing decisions should consider consumers wants, the company's requirements, consumers' long run interests, society long-run interests
Customer-perceived value	Customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers
Customer satisfaction	The extent to which a products perceived performance matches a buyers expectation
Consumer-generated marketing	Marketing messages, ads, and other brand exchanges created by consumers themselves-both invited and uninvited
Partner relationship management	working closely with partners in other company departments and outside the company to jointly bring greater value to customers
Share of customer	The portion of the customer's purchasing that a company gets in its product categories
Customer Equity	The total Combined customer lifetime values of all of the company's customers.
Value Chain	The series of departments that carry out value-creating activities to design, produce, market, deliver and support a firm's products
Value delivery network	Mage up of the companies suppliers, distributors, and ultimately, customers who "partner" with each other to improve the performance of the entire system.
Market segmentation	Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs
Market segment	group of consumers who respond in a similar way to a given set of marketing efforts
Market targeting	The process of evaluating each market segments attractiveness and selecting one or more segments to enter
Marketing Mix	The set of controllable tactical marketing tools-products, price, place, and promotion-that the firm blends to produce the response it wants in the target market.
Four Ps	Product, Price, Promotion, Place
Product	Variety, Quality, design, features, brand name, Packaging, Services
Price	List price, Discount,allowance, payment periods, credit terms
Promotion	Advertising,personal selling, sales promotion, PR
Place	Channels, Coverage, Assortments, locations, Inventory, transportation, logistics
Marketing Control	The process of measuring and evaluating the results of marketing strategies and plans and taking corrective actions to ensure that objectives are achieved
Marketing environment	the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers
Public	Any group that has an actual or potential interest in or impact on an organization's ability to achieve it objectives.
Demography	study of human populations in terms of size, density, location, age, gender, race, occupation, and other stats
Microenvironment	The actors close to the company that affect its ability to serve its customers-the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
Macroenvironment	Demographic, economic, natural, technological, political, and culture forces.
Public	Any group that has an actual or potential interest in or impact on an organization's ability to achieve it objectives.
Demography	study of human populations in terms of size, density, location, age, gender, race, occupation, and other stats
Baby boomers	78 million Following WW2 and until 1964
Generation X	45 million born between 1965-1976 " birth dearth "
Generation Y (millennials)	83 million children of babyboomers 1977-2000
Engel's Law	Diffences noted on how people shift spending across food, housing, transportation, health care and other goods,
Marketing Information System	People and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
Consumer buyer behavior	the buying behavior of the final consumers
Consumer Market	all the individuals and households who buy or acquire goods and services for personal consumption
Culture	The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other institutions
Subculture	A group of people with shared value systems based on common life experiences and situations
Social Class	Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
Group	2 or more people who interact to accomplish individuals or mutual goals
Stages of Adoption Process	Awareness,Interest, Evaluation, Trial, Adoption
Sustainable Marketing	Marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
Consumerism	An organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.
Environmentalism	An organized movement or concerned citizens and government agencies to protect and improve peoples current and future living environment.
Environmental Sustainability	A management approach that involves developing strategies that both sustain the environment and produce profits for the company
Consumer-Oriented MArketing	The philosophy of sustainable marketing that holds that the company should view and organize it marketing activities from the consumers point of view
Customer-Value marketing	A principle of sustainable marketing that holds that a company should put most of its resources into customer-value-building marketing investments
Innovative marketing	A principle of sustainable marketing that requires that a company seeks real product and marketing impovements.
Sense-of-Mission marketing	A principle of sustainable marketing that holds that a company should define its mission in broad social terms rather than narrow products term.
Societal Marketing	A principle of sustainable marketing that holds that a company should make marketing decisions by considering consumer wasnts, the companys requirements, consumers' long-run interests, and society's long run interest.
Deficient Products	Products that have neither immediate appeal nor long-run benefits
Pleasing Products	Products that give high immediate satisfaction but may hurt consumers in the long-run
Salutary Products	Products that have low appeal but may benefit consumers in the long-run
Desirable Products	Products that give both high immediate satisfaction and high long-run benefits
Attitude	A person's consistently favorable or unfavorable evaluations, feelings, and tendencies towards and object or idea
Life-cycle stage segments	Youth-Younger than 18, Getting Started 18-35, Builders 35-50, Accumulators 50-60, Preservers 60+
Lifestyle	A person's pattern of living as expressed in his or her activities, interests, and opinions

Which pricing strategy is both unethical and illegal?

What Is Predatory Pricing? Predatory pricing is the illegal act of setting prices low to attempt to eliminate the competition. Predatory pricing violates antitrust laws, as it makes markets more vulnerable to a monopoly.

How many commandments did the Jews eventually write to supposedly govern their moral behaviors?

Centuries of debate among scholars concluded in most circles that the rabbis found 613 commandments in the Torah. This is the number that most Jews agree on today.

Should marketers tell the truth?

The Importance of Truth in Advertising You want potential customers to know exactly what you're offering. If they show up and it turns out you promised more than you can deliver, they're going to leave, and it's going to hurt your reputation.

When engaging in market segmentation What is the primary goal of marketers?

Market segmentation can help you to target just the people most likely to become satisfied customers of your company or enthusiastic consumers of your content. To segment a market, you split it up into groups that have similar characteristics. You can base a segment on one or more qualities.

__________ provide both immediate satisfaction and long-run benefits to customers.

Which pricing strategy is both unethical and illegal?

How many commandments did the Jews eventually write to supposedly govern their moral behaviors?

Should marketers tell the truth?

When engaging in market segmentation What is the primary goal of marketers?

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