MARKETING FINANCIAL

MARKETING- AN ORG. AND COLLLECTION OF PROCESS DESIGNED TO PLAN, CREATE AND

COMMUNICATE AND DELIVER TO CUSTOMER AND BUILD EFFEECTIVECUSTOMER RELATIONSHIP IN
WAYS THAT BENEFIT THE ORG AND STAKEHOLDER.
VALUE-REALIZATIONOF BENEFITS THAT ARE AT A PRITY.
UTILITY-SATISFACTION RECEIVED FROM OWNING OR CONSUMING A PRODUCT OR SERVICE.
NEED- NECESSITY TO MEET AN URGENT NEEDS WHILE WANT- IS THE DESIRE FOR SOMETHING NOT
IMPORTANT.
DEMAND-FINANCIAL CAPACITY TO BUY THE WANT AND BRANDS- A PROMISE TO DELIVERTO
CONSUMER SPECIFIC BENEFITS ASSOCIATED WITH PRODUCTS AND SERVICES.
MARKETING EXTENDS TO TANGIBLE/INTANGIBLE ITEMS.
MARKETING CONCEPT- AN ORG. PHILOSOPHY DEDICATED TO UNDERSTANDING AND FULFILLING
CONSUMER NEEDS THROUGH THE CREATION OF VALUE.
CUSTOMER RELATIONSHIP-CREATED WHEN BUSINESS AND CUNSOMER INTERACT THROUGH SALES
TRANSACTIONS OF A PRODUCT OR SERVICE AND CONTINUE THAT RELATIONSHIP BASED ON ONGING
INTERACTION BETWEEN THE BUSINESS AND CUSTOMER.
CUSTOMER LIFETIME VALUE- THEPROJECTED SALES REVENUE AND PROFITABLITY THAT CUSTOMER
COULD PROVIDE TO A FIRM.
MARKETING FUNCTIONS- ACTIVITIES PERFORMED WITHIN ORG THAT CREATE VALUE FOR SPECIFID
PRODUCTS OR SERVICES.
EXCHANGE- ACTY. THAT PROMOTE AND ENABLE TRANSFER OF OWNERSHIP.
PHYSICAL- ACTY. THAT ENABLE THE FLOW OF GOODS FROM MANUFACTURE TO CONSUMER
FACILITATING- ACTY/ THAT ASSIST THE EXECUTION OF EXVHANGE AND PHYSICAL FUNCTION
INTERNAL MARKETING- MARKETING DEPT (4 P’S)., OTHER BUSINESS DEPT., BUSINESS
LEADERSHIPP/BOARD OF DIRECTORS
EXTERNAL MARKETING- INVESTORS, CONSUMER/CUSTOMER, ADVERTISING/AR AGENCY, INFO.
PROVIDERS/MARKETING RESEARCH COMPANIES. GOVERNMENT, PARTNERS, COMPETITORS
MARKETING ENVIRONMENT- SET OF FORCES, SOME CONTROLLABLE AND SOME UNCONTROLLABLE,
THAT INFLUENCE THE ABILITY OF A BUSINESS TO CREATE VALUE AND ATTRACT AND SERVE
CUSTOMER
INTENAL ENVIRONMENT- ACTY. THAT OOCUR INSIDE THE ORGANIZATION FUNCTION.
INTERNAL MARKETING- IMPLEMENT MARKETING PRACTICE TO EMPLOYEE AND STAKEHOLDER. (IN)
EXTERNAL ENVIRONMENT- ACTY. THAT OCCUR OUTSIDE THE ORGANIZATION FUNCTION.
EXTERNAL MARKETING- IMPLEMENT MARKETING PRACTICE DIRECTEOUTSIDE THE BUSINESS TO
CREATE VALUE AND FORM PRODUCTIVE CUSTOMER
MICROENVIRONMENT-FORCES CLOSE TO A COMPANY, YET OUTSIDE THE INTERNAL ENVIRONMENT
THAT INFLUENCE THE ABILITY OF THE BUSINESS TO SERVE ITS CUSTOMER.
THREAT OF NEW ENTRANTS, BARGAINING POWER OF SUPPLIER/CUSTOMER, THREAT OF SUBSTITUTE
PRODUCTS, COMPETITIVE RIVALRY WITHIN THE INDUSTRY
MACRO ENVIROMENT-SOCIATAL FORCES THAT ARE ESSENTIALLY UNCONTROLLABLE AND
INFLUENCE THE MICRON-ENVIRONMENT OF A BUSINESS.
ECONOMIC- INFLATION, INCOME LEVEL, UNEMPLOYMENT LEVELS
SOCIAL AND CULTURAL- DEMOGRAPHICS (IDENTITY THE MARKETS) EX. AGE
COMPETITIVE-NATURE, QUANTITY AND POTENTIAL COMPETITORS
LEGAL-PROVIDE RULES AND PENALTIES TO VIOLATORS
POLITICAL-PRESIDENT SELECTION, CREATE LAW, PROCESS DISCOURSE ON ISSUE
TECHNOLOGICAL- ACCEPTED TO LEGAL FRAMEWORK
CUNSOMER MARKET- THE END USER OF THE PRODUCT OR SERVICE AND INCLUDE INDIVIDUAL AND
HOUSEHOLD THAT ARE POTENTIAL OR ACTUAL BUYER
CUNSOMER PRODUCT-DIRECTLY FULFILL THE DESIRES OF CUNSOMERS AND ARE NOT INTENDED TO
ASSIST IN THE MANUFACTURE OF OTHER PRODUCTS.
CUNSOMER SURPLUS- CUNSOMER PURCHASE A PRODUCT OR SERVICE AT A PRICE LESS THAT THE
UTILITY OF THE PRODUCT OR SERVICE
BRAND- CONVEY VALUE TO CUNSOMER AND CONVEY ITS VALUE.
BUSINESS MARKET- INDIVIDUALS AND ORG THAT ARE POTENTIALOR ACTUAL BUYERS THAT ARE
USED IN, OR IN SUPPORT OF THE PRODUCTION OF OTHER PRODUCTS OR SERVICE.
BUSINESS-TO-BUSINESS (B2B)- THE SALESOF PRODUCTS AND SERVICE FROM ONE BUSINESS TO
OTHER
DERIVED DEMAND- DEMAND FOR A PRODUCT/SERVICE THAT RESULTS FROM THE DEMANDS FOR
ANOTHER PRODUCT OR SERVICE
BUYCLASSES (BUYING SITUATION) - NEW TASK, MODIFIED REBUY, STRAIGHT REBUY
BUYING CENTER (PERFORM PROCUREMENT PROCESS) -INITIATOR, INFLUENCER, BUYER
DECIDER, ISERS, GATEKEEPER
PLANNING PROCESS- THE SERIES OF STEPS BUSINESS TAKE TO DETERMINE HOW THEY WILL CHIEVE
THEIR GOALS.
BUSINESS PLANNING- DECISION PROCESS FOR PEOPLE AND BUSINESS TO MANAGE SYSTEMS TO
ACHIEVE AN OBJECTIVE.
BUSINESS PLAN- DEFINES THE OPERATIONAL ANG INITIAL OBJECTIVES OF A BUSINESS OVER A
PARTICULAR TIME.
ELAVATOR PITCH- BRIEF DESCRIPTION OF A PRODUCT OR SERVICE DESIGNED TO GAIN ATTENTIONOF
DESIRED PARTIES AND TO GENERATE INTEREST IN ACHIEVING A DESIRED OUTCOME.
STRATEGIC PLANNING- DETERMINE THE OVERALL GOALS OF THE BUSINESS AND THE STEPS IT WILL
TAKE TO ACHIVE THEM
TACTICAL PLANING- THE PROCESS OF DEVELOPING ACTIONS FOR VARIOUS FUNCTIONS WITHNIN A
BUSINESS TO SUPPORT IMPLEMENTING STRATEGIC PLAN.
CRITICAL ELEMENTS
BUSINESS MISSION/VISION
DEFINE THE BUSINESS OBJECTIVES- SOMETHING A BUSINESS IS ATTEMPTING TO ACHIEVE.(SMART)
DEVELOP THE BUSINESS PORTFOLIO- THE PROCESS THAT A BUSINESS USES TO EVALUATETHE
DIFFERENT COMBINATIONS OF PRODUCTS AND SERVICES THE BUSINESS OFFERS, BASED ON
BUSINESS OBJECTIVES.
BCG GROWTH MARKET SHARE
H
STAR QUESTION
CASH COWS DOGS

L
H L

MARKET GROWTH=INCOME GENERATE MARKET SHARE=DEMAND OF PEOPLE

STAR= +MARKET GROWTH+MARKET SHARE
QUESTION= +MARKET GROWTH-MARKET SHARE
CASH COWS= -MARKET GROWTH+MARKET SHARE
DOGS= -MARKET GROWTH-MARKET SHARE
MARKETING PLANNING- INCLUDES THOSE ACTIVITIES DEVOTED TO ACCOMPLISHING MARKETING
OBJECTIVES.
MARKETING OBJECTIVES- A MARKETING FUNCTION IS ATTEMPTING TO ACHIEVE IN SSUPPORT OF A
STRATEGIC BUSINESS PLAN
MARKETING AUDIT- COMPREHENSIVE REVIEW AND ASSESSMENT OF A BUSINESS’S MARKETING
ENVIRONMENT
MARKETING STRATEGY- STATEMENT OF HOW A BUSINESS INTENDS TOACHIEVEITS MARKETING
OBJECTIVES.
TARGET MARKET- A GROUP OF CUNSOMERS THAT A BUSINESS DETERMINE IS THE MOST VIABLE FOR
ITS PRODUCTS OR SERVICES.
MARKETING MIX- A GROUP OF MARKETING VARIABLES THAT A BUSINESS CONTROLS WITH THE
INTENT OF IMPLEMENTING A MARKETING STRATEGY DIRECTED AT A SPECIFIC TARGET MARKET.
PRODUCT STRATEGY- IDENTIFIES THE PRODUCT AND SERVICE PORTFOLIO, INCLDNG PACKAGING,
BRANDIN AND WARRANTY FOR ITS TARGET MARKETS.
PLACE STRATEGY- IDENTIFF WHERE, HOW, AND WHEN PRODUCTS AND SERVICE ARE MADE
AVAILABLE TO TARGET CUNSOMER.
PRICING STRATEGY- IDENTIFIES THE BUSINESS WILL CHARGE FOR ITS PRODUCT
PRMOMOTION STRATEGY- IDENTIFIES HOW A BUSINESS COMMNICATES PRODUCT OR SERVICE
BENEFITS AND VALUE TO ITS TARGET MARKET
SWOT ANALYSIS- A TOOL THS HELPS IDENTIFY BUSINESS STRENGTH, WEAKNESS, OPPORTUNITIES,
AND THREATS
RETURN ON MARKETING INVESTMENT (ROMI) – THE IMPACT ON BUSINESS PERFORMANCE
RESULTING FROM EXCUTING SPECIFIC MARKETING ACTIVITIES.