Across
- 2. The customer segment or group to whom the firm is interested in selling its products and services.
- 4. The group of firms and set of techniques and approaches firms use to make and deliver a given set of goods and services.
- 6. Exiting markets, reducing product portfolios, or closing certain businesses or store or plant locations.
- 8. A group of products that consumers may use together or perceive as similar in some way.
- 11. The trade of things of value between the buyer and the seller so that each is better off as a result.
- 12. Reflects the relationship of benefits to costs, or what the consumer gets for what he or she gives.
- 14. Involves a focus on a good physical location and Internet presence.
- 17. Thoughts, opinions, philosophies, and intellectual concepts.
- 18. The groups of people who need or want a company’s products or services and have the ability and willingness to buy them.
- 20. Involves a focus on achieving high-quality products and effective branding and positioning.
- 25. A growth strategy that employs the existing marketing mix and focuses the firm’s efforts on existing customers.
- 27. A growth strategy that employs the existing marketing offering to reach new market segments, whether domestic or international or segments not currently served by the firm.
- 33. process of selling merchandise or services from one business to another.
- 36. The part of the strategic marketing planning process when managers evaluate the performance of the marketing strategy and take any necessary corrective actions.
- 37. A set of business practices designed to plan for and present an organization’s products or services in ways that build effective customer relationships.
- 38. The annual rate of growth of the specific market in which the product competes.
- 39. Where marketing executives and other top managers define the mission and objectives of the business, and evaluate the situation by assessing how various players, both inside and outside the organization, affect the firm’s potential for success.
- 40. Items that can be physically touched.
- 41. Something the firm can persistently do better than its competitors that is not easily copied and thus can be maintained over a long period of time.
- 42. Identifies a firm’s target market(s), a related marketing mix—the four Ps, and the bases upon which the firm plans to build a sustainable competitive advantage.
- 43. The processes of segmentation, targeting, and positioning that firms use to identify and evaluate opportunities for increasing sales and profits.
- 45. The second step in a marketing plan; uses a SWOT analysis that assesses both the internal environment with regard to its strengths and weaknesses and the external environment in terms of its opportunities and threats.
Down
- 1. A growth strategy that offers a new product or service to a firm’s current target market.
- 3. A method of building a relationship with customers based on the philosophy that buyers and sellers should develop a long-term relationship.
- 5. The overall sacrifice a consumer is willing to make—money, time, energy—to acquire a specific product or service.
- 7. Content distributed through online and mobile technologies to facilitate interpersonal interactions.
- 9. A measure of the product’s strength in a particular market, defined as the sales of the focal product divided by the sales achieved by the largest firm in the industry.
- 10. segment: A group of consumers who respond similarly to a firm’s marketing efforts.
- 13. A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm’s most valued customers.
- 15. The process in which consumers sell to other consumers
- 16. Involves a focus on retaining loyal customers and excellent customer service.
- 19. Involves a focus on efficient operations and excellent supply chain management.
- 21. The process of dividing the market into distinct groups of customers—where each individual group has similar needs, wants, or characteristics—who therefore might appreciate products or services geared especially for them in similar ways.
- 22. A broad description of a firm’s objectives and the scope of activities it plans to undertake; attempts to answer two main questions: What type of business is it? and What does it need to do to accomplish its goals and objectives?
- 23. Intangible customer benefits that are produced by people or machines and cannot be separated from the producer.
- 24. A basic necessity, such as food, clothing, shelter, or safety.
- 26. The process of evaluating the attractiveness of various segments and then deciding which to pursue as a market.
- 28. A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements.
- 29. A growth strategy whereby a firm introduces a new product or service to a market segment that it does not currently serve.
- 30. Product, price, place, and promotion—the controllable set of activities that a firm uses to respond to the wants of its target markets.
- 31. Where marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation, targeting, and positioning. They then develop and implement the marketing mix by using the four Ps.
- 32. A division of the company that can be managed somewhat independently from other divisions since it markets a specific set of products to a clearly defined group of customers.
- 34. The process in which businesses sell to consumers.
- 35. Involves the process of defining the marketing mix variables so that target customers have a clear, distinct, desirable understanding of what the product does or represents in comparison with competing products.
- 44. The particular way in which a person chooses to satisfy a need, which is shaped by a person’s knowledge, culture, and personality.