Strategic Marketing Overview

In marketing, the act of exchanging goods or services for money or other valuable consideration.

A type of exchange where there is no expectation of future interaction, focusing solely on the immediate transaction.

A type of exchange that considers future interactions, building relationships, and fostering loyalty.

Marketing strategies that aim to build strong relationships with customers by encouraging direct and continuous engagement with the brand.

A concept in marketing that measures the total value a customer brings to a business over their lifetime.

The practice of maximizing the spending of existing customers by encouraging them to purchase additional products or services.

A business strategy focused on maintaining a positive relationship with customers, often by exceeding their expectations.

The act of creating a sense of belonging and connection between a brand and its customers.

The difference between what a company offers and what a customer expects.

Setting high expectations can lead to higher customer satisfaction and loyalty if met, but can also lead to disappointment if unmet.

The overall perception of benefits received compared to the costs incurred in a transaction.

The feeling of contentment or satisfaction experienced after a transaction, based on the received value vs. expectations.

The act of consistently choosing a particular brand or product over others, often driven by high value and satisfaction.

The act of obtaining a desired object from someone by offering something in return, involving mutual agreement and value exchange.

The conditions that make exchange possible involve two parties with something valuable, willingness to deal, and freedom to accept or reject offers.

The process of creating value through various stages, from initial product concept to societal impact and sustainability.

The process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

The basic requirements for human survival, such as food, water, shelter, safety, and belonging.

The forms that needs take as they are shaped by culture and individual personality.

Wants backed by buying power. The ability and willingness to purchase something.

Physical goods, tangible items that can be touched and owned.

Intangible activities, benefits, or experiences that are offered for sale, such as financial services, transportation, and education.

A combination of goods, services, and information that creates a unique value proposition for a customer.

A promise of value that a company makes to its customers, outlining the benefits they will receive from purchasing a product or service.

The positive feelings and thoughts that a customer has about a product or service.

The ongoing relationship between a company and its customers, characterized by repeat purchases, loyalty, and referral business.

A plan that outlines the marketing strategies and actions a company will take to achieve its marketing goals.

A strategic plan, marketing process, and action plan - outlining the steps to achieve marketing goals.

The plan for achieving overall business goals, usually spanning several years, including a strong marketing focus.

The operational details of executing your marketing plan. This might include things like social media strategies, advertising campaigns, pricing models, market analysis, and so forth.

The specific actions taken to implement your marketing strategy in the real world.

This is a summary of a company's mission and values; this is the foundation upon which the marketing plan is built. The company's overall direction and purpose are outlined in the mission statement.

A clear and compelling statement explaining how your product or service solves a customer's problem.

A structured analysis of a company's internal and external environments to identify strengths, weaknesses, opportunities, and threats, helping to guide decisions and create a competitive advantage.