Marketing (Fach) / Definitions (Lektion)

Definitions

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• Corporate Social Responsibility Business’s concern for society’s welfare
• Sustainability The idea that socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits and help the world at the same ...
• Marketing Strategy The activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
• Market Opportunity Analysis (MOA) The description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments.
• Marketing Mix A unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.
• Four Ps: Product, place, promotion, and price, which together make up the marketing mix.
• Implementation The process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplished the plan’s objectives.
• Evaluation Gauging the extent to which the marketing objectives have been achieved during the specified time period.
• Control Provides the mechanisms for evaluating marketing results in light of the plan’s objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines. ...
• Marketing Audit A thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization.
• Ethics The moral principles or values that generally govern the conduct of an individual
• Pyramid of Corporate Social Responsibility A model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firm’s economic performance supports the entire structure ...
• Social Distance Showing people from a distance can decrease their individuality
• Social Relation Power differences, including how involved or detached figures appear
• Social Interaction : The gaze of the depicted figure (outward, downward, etc.) and its implications for interpersonal connection
• The Gaze At a symbolic level it signifies a psychological relationship of power, in which the gaze is superior to the object of the gaze.
• Face-ism Systematically showing men with more prominent faces
• Idealization : The glamorization of the self/ body image
• Exoticization A dominant cultural view of the exotic other.
• Exclusion : The likelihood of not representing particular people
• Tacit Interpretation These representational conventions may unconsciously influence consumer perception at a fundamental cognitive level
• Target Market A defined group most likely to buy a firm’s product A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that ...
• Environmental Management When a company implements strategies that attempt to shape the external environment within which it operates
• Component Lifestyles The practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle
• Demography The study of people’s vital statistics, such as their age, race and ethnicity, and location.
• Multiculturalism When all major ethnic groups in an area – such as a city, county, or census tract – are roughly equally represented.
• Purchasing Power : A comparison of income versus the relative cost of a set standard of goods and services in different geographic areas
• Inflation A measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
• Recession A period of economic activity characterized by negative growth, which reduces demand for goods and services.
• Basic Research Pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon.
• Applied Research An attempt to develop new or improved products.
• Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use
• Consumer Decision-Making Process A five step process used by consumers when buying goods or services.
• Need Recognition Result of an imbalance between actual and desired states
• Want: The way a consumer goes about addressing a need
• Stimulus : Any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing.
• Internal Information Research The process of recalling past information stored in the memory.
• External Information Search The process of seeking information in the outside environment.
• Nonmarketing-Controlled Information: A product information source that is not associated with advertising or promotion.
• Marketing-Controlled Information Source A product information source that originates with marketers promoting the product.
• Evoked Set (Consideration Set) A group of brands, resulting from an information search, from which a buyer can choose.
• Cognitive Dissonance Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
• Involvement : The amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior.
• Routine Response Behavior The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time.
• Limited Decision Making: The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category.
• Extensive Decision Making The most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time ...
• Culture: The set of values, norms, attitudes, and other meaningful symbols that shape human behavior, and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.
• Value The enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct
• Subculture A homogenous group of people who share elements of the overall culture as well as unique elements of their own group
• Social Class A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms

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