3M Feedback 3M s 15 Rule allows inventors to use up to 15 percent of their time to do initially unfunded research that might lead to marketable 3M products AAA Mobile Homes Tim Apel creating value create value through service doing it right provide satisfaction Ben Jerry s sticking to mission created Goodbye Yellow Brickle Road ice cream in partnership with Sir Elton John to help his worldwide AIDS Foundation BIG by acting smaller pg 26 Cash Cows pg 23 CMOs create and deliver value to the organization and its customers including overseeing product planning and positioning and coordinating public relations initiatives Cohorts pg 28 29 and 30 Competitive Forces pg 32 Consumer Behavior pg 43 also its in Chapter 5 Consumer Decision Making pg 46 psychological influences on pg 47 48 49 50 51 and 54 has other influences Corporate Level level in an organization where top management directs overall strategy for the entire organization Corporate Stragety pg 19 Criticism of Marketing Page 36 Cross Functional Team Used when developing marketing programs for new offers group has common set of goals Cultural Pollution pg 38 Customer Relationship Era pg 17 Customer relationship management CRM is most closely related to the customer relationship era in U S business history Customer Value the unique combination of benefits received by targeted buyers that includes quality convenience on time delivery and both before sale and after sale service at a specific price Deceptive Practices pg 36 Deceptive Promotions pg 37 Demographics pg 28 Dogs pg 23 Don Kosec the impact of gerations preferences pg 30 Economical Forces pg 31 Environmental Forces lack of control of marketing mix factors examples social economic technological competitive and regulatory factors Environmental Scanning pg 28 Ethics Business pg 35 39 AMA Ethics 40 n 41 Exchange trade of things of value between buyer and seller so that each is better off after the trade Felber Felber Rob Felber Creating Value be a helpful resource be an advisor be there when you are needed Prive them extra Economic Forces pg 31 Factors Influencing Marketing pg 8 Ford 4 6 Billion revival in 2010 best since 1999 Fred Hunt SWOT pg 25 Functional Department Level chapter 2 High Prices pg 36 High Pressure Selling pg 37 Hyper competition Pg 17 Implications of definition MAD purchasing power Authority Willingness to purchase demand Implementing the Marketing Plan pg 27 Jim Wise Marketing Dashboards at Don Joseph Toyato pg 25 Legal Forces pg 33 Managers Response to being Ethical pg 39 Marketing Concept the idea that an organization should 1 strive to satisfy the needs of consumers 2 while also trying pg 15 in notes Marketing Dashboard pg 25 Marketing seeks to discover the needs and wants of prospective customers and satisfy them at a profit through an integrated effort Marketing Efforts design implementation and evaluation of marketing mix Marketing Management Philosophies Chapter 1 page 14 in notes Marketing Mix pg 11 product a good service or idea Price What is exchanged for the product Promotion A means of communications between the seller and buyer Place A means of getting the product to the consumer Marketing to occur at least four factors are required 1 two or more parties individuals or organizations with unsatisfied needs 2 a desire and ability on their part to be satisfied 3 a way for the parties to communicate and 4 something to exchange Market Product Focus and Goal Setting pg 26 Marketing Programming a plan that integrates the marketing mix to provide a good service or idea to prospective buyers Marketing Strageties pg 19 Marketig Utilities pg 18 Medtronic s Mission Statement To contribute to human welfare by application of biomedical engineering in the research design manufacture and sale of instruments or appliances that alleviate pain restore health and extend life Michele Skinn pg 16 what is marketing Pg 42 importance of understanding consumers Mission Statements Pg 21 Muller Timken pg 15 in notes Needs and Wants pg 10 in notes Offerings a product service or idea that creates value for both the organization and its customers by satisfying their needs and wants 100 The Organization has a mission to help decide how we do what we do goals and objectives management and people skills and uses resources to do so Organizational Structure pg 19 Planned Obsolescence Pg 38 Political and Legal Forces pg 33 Poor Service to Disadvantaged Consumers pg 38 Problem Children og 24 Product Concept pg 14 in notes Product Portfolio Models pg 23 and 24 Prospective customer an individual is buying for personal use or use for his household or an organization is buying for its own use or for resale Purchase Decision Process Stages pg 43 44 45 Questionable Judgments in Advertising pg 39 Racial and Ethnic Diversity pg 30 Relationship Marketing the hallmark of developing and maintaining effective customer relationships Response to Competitive Trend pg 33 Requirement for Marketing two or more parties involved each must have a desire and an ability to engage need to be able to communicate each must have something of value to exchange Selling Concept pg 15 in note Sherwin Williams Fred Hunt Delivering value to customers Vale IS The game the way to beat competition the product may be similar but available consistency and reliable Get it done right deliver promise S M A R T specific measurable attainable relevant time based Time Warner Ex on pg 22 Social Forces pg 28 The Societal Marketing Concept pg 16 Synergy Marketing pg 17 Star pg 24 Strategic Business Units pg 20 Strategic Direction pg 22 Strategic Marketing Planning Levels pg 20 Strategic Marketing Process pg 25 Strategic Planning pg 19 Strategic Setting pg 22 Strategy in Organization pg 19 S W O T Analysis Pg 26 Target Market one or more specific groups of potential consumers towards which an organization directs it marketing program Technological Forces pg 31 Time Utility The value to consumers that comes from having a good or service available when needed constitutes EX Goodwill has a 24 hour drop box for donations Time Warner Business to Business Service Collect trends and data helps to determine incentives use research and tools to drive sales through brand awareness Time Warner Mission pg 21 Tracking Strategic Direction with Marketing Dashboard pg 25 Types of Competition pg 32 n 33 Types of Goals pg 22 Unsafe Products pg 37 Value Strategies Best Price Best Product Best Service Best depends on objectives competition