Marketing Basics

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Questions and Answers

What is marketing?

The process of creating and delivering value-based messages for products and services, designed to increased sales and customer loyalty, in the context of the famous 4Ps.

What does marketing cover?

It includes everything from market research to advertising.

What are the 4Ps of marketing?

The marketing mix - Product, Price, Place, and Promotion

What are the 5Cs in marketing strategy?

<p>The 5Cs in marketing strategy stand for Company, Collaborators, Customers, Competitors, and Context.</p> Signup and view all the answers

What are the 7Ps?

<p>Product, Price, Place, Promotion, People, Process, Physical evidence</p> Signup and view all the answers

What is the Kernel of any good strategy, as per Richard Rumelt?

<p>Diagnosis - Understanding the dimensions of the gap of where we are and where we want to be in a qualitative and quantitative way</p> <p>Guiding policy - After framing the problem, how do we frame ourselves? What is the value that our talents have the potential to deliver? Do we need to evolve?</p> <p>Coherent plan - coherent actions that support the guiding policy, and the OKRs that have been derived.</p> Signup and view all the answers

What are the basic elements of a customer persons?

<p>Name, Age, Location, Household, Education, Goals, Barriers</p> Signup and view all the answers

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