Marketing Concepts and Strategies

<p>Value-based pricing (C)</p> Signup and view all the answers

<p>Transparency and honesty in advertising. (A)</p> Signup and view all the answers

<p>Identifying and dividing the market into smaller, more similar groups based on needs. (A)</p> Signup and view all the answers

<p>To meet and understand the specific needs and wants of customers. (B)</p> Signup and view all the answers

<p>Perception (B)</p> Signup and view all the answers

<p>Positioning (B)</p> Signup and view all the answers

<p>Building and maintaining long-lasting relationships with customers. (B)</p> Signup and view all the answers

<p>Digital Marketing (C)</p> Signup and view all the answers

<p>When there is a strong demand for a specific product. (D)</p> Signup and view all the answers

<p>To create and share valuable content that engages an audience. (C)</p> Signup and view all the answers

Paid advertising strategies on search engines like Google that aim to improve a website's search ranking and attract organic traffic.

The systematic process of gathering, analyzing, and interpreting data to understand market needs, trends, and customer preferences.

Identifying and using the most effective channels to reach target customers, whether through traditional channels like retail stores or modern channels like e-commerce websites.

The strategies involved in setting prices that balance profitability with customer value, taking into account factors like cost, competition, and customer perception.

Methods of communicating a brand's message to the target market to create product awareness and drive sales, including advertising, public relations, sales promotions, and direct marketing.

The process of creating, communicating, and delivering value to customers and managing relationships for mutual benefit. It involves understanding needs, developing solutions, and managing activities like promotion, pricing, and distribution.

A comprehensive approach to managing customer relationships, focusing on building and maintaining loyal customer connections. It involves tracking interactions, understanding preferences, and providing personalized experiences.

Dividing a broad market into smaller, more homogenous groups of customers with similar needs and characteristics. This helps tailor marketing efforts to specific preferences.

Evaluating the different market segments and selecting which segments to focus marketing efforts on. Organizations choose segments where they can create the most value and achieve their objectives.

Developing a unique selling proposition that differentiates a product or service from competitors, creating a specific place for it in the customer's mind. It involves highlighting benefits and superior features.

A framework of key elements involved in marketing: Product, Price, Place, and Promotion. Managing these elements in a coordinated way is crucial for marketing success.

Focuses on the product itself, emphasizing its features and benefits. Often effective when there are fewer choices available or a strong demand for a particular product.

Prioritizes understanding and meeting customer needs and wants at the core of the marketing strategy. Identifies, segments, and targets specific customer groups, developing products or services tailored to their needs.