Marketing management 1

• avoidance of a product

  negative demand
• Lack of awareness or interest in a product


  non existent demand
• a strong need that cannot be satisfied by existing products

  latent demand
• Lower demand

  declining demand
• demand varying by season, day, or hour


  irregular demand (
• a satisfying level of demand

  full demand
• more demand than can be handled

  overfull demand
• demand for unhealthy or dangerous products

  unwholesome demand
• a societal process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others.

  Marketing (social definition)
• the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

  Marketing Management
• includes all of the actual and potential rival offerings and substitutes that a buyer might consider

  Competition
• Level of competition

  Brand competition Industry competition Form competition Generic competition
• includes the immediate actors involved in producing, distributing, and promoting the offering, including the company, suppliers, distributors, dealers, and the target customers.

  Task environment
• consists of six components: demographic, economic, natural, technological, political-legal, and social-cultural environment

  Broad environment
• set of marketing tools that the firm uses to pursue its marketing objectives in the target market

  Marketing mix
• (Marketing Orientations) holds that consumers prefer products that are widely available and inexpensive- can lead to marketing myopia


  production concept
• assumes that consumers must be coaxed into buying, so the company has a battery of selling and promotion tools to stimulate buying.

  selling concept
• holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering. and communicating customer value to its chosen target markets

  marketing concept
• holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well- being.

  societal marketing concept
• Major Marketing Themes in the New Millennium

  Relationship marketing Customer lifetime value Customer share Individualization Customer database