Podcast
Questions and Answers
What is the primary focus of a customer-centric organization?
What is the primary focus of a customer-centric organization?
- Expanding into global markets
- Meeting the needs and preferences of its customers (correct)
- Maximizing internal processes efficiency
- Developing innovative products
Which activities are involved in marketing management for launching a new product like a smartphone?
Which activities are involved in marketing management for launching a new product like a smartphone?
- Product design, manufacturing, and distribution
- Financial planning, budgeting, and auditing
- Legal compliance, risk management, and quality control
- Market research, strategic planning, and implementation of promotional activities (correct)
What are examples of things that can be marketed according to the text?
What are examples of things that can be marketed according to the text?
- Services, events, properties, information
- Goods, events, people, ideas
- Goods, software, experiences, people
- Goods, services, events, experiences (correct)
What major forces are shaping today’s market according to the text?
What major forces are shaping today’s market according to the text?
What do new consumer capabilities refer to according to the text?
What do new consumer capabilities refer to according to the text?
What is the primary focus of a customer-centric organization?
What is the primary focus of a customer-centric organization?
What does marketing management involve for launching a new product like a smartphone?
What does marketing management involve for launching a new product like a smartphone?
What are the major forces shaping today’s market according to the text?
What are the major forces shaping today’s market according to the text?
What can be marketed according to the text?
What can be marketed according to the text?
What do new consumer capabilities refer to according to the text?
What do new consumer capabilities refer to according to the text?
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Study Notes
Customer-Centric Organization
- The primary focus is on creating customer value and building strong customer relationships.
Marketing Management
- Involves planning, organizing, and controlling marketing activities to achieve business objectives.
- For launching a new product like a smartphone, it involves:
- Market research and analysis
- Segmenting and targeting specific markets
- Positioning and differentiating the product
- Developing a marketing mix (4 Ps: product, price, promotion, and place)
- Executing and controlling marketing strategies
Marketing Scope
- Various things can be marketed, including:
- Goods (physical products)
- Services (intangible experiences)
- Ideas (concepts or philosophies)
- Experiences (events or activities)
Market Forces
- The major forces shaping today's market include:
- Globalization
- Technology
- Consumer empowerment
Consumer Capabilities
- New consumer capabilities refer to:
- The ability of consumers to access and share information through digital platforms
- The power of consumers to influence other customers through social media and online reviews
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