1st Quarter Reviewer in Marketing PDF

Reviewer in Marketing Marketing management driving forces motivates business operations? Blue Ocean Strategy This strategy encourages businesses to expand their market base and tap potential demand through product differentiati...

Reviewer in Marketing Marketing management driving forces motivates business operations? Blue Ocean Strategy This strategy encourages businesses to expand their market base and tap potential demand through product differentiation and low cost. Customer Lifetime Value This is the total profit gained from each customer over a specific time period. Customer Relations This Focuses on establishing and maitaining customer loyalty. Customer Satisfaction This refers to the perceived benefits and results a customer experts from the product or service. Customization This refers to matching products and services to the specific needs and wants of customers Digital Marketing Contemporay method is involve in using of digital technologies in presenting the product or service offerings of a company? E-Marketing Contemporary marketing method utilizes the internet to boost promotional and marketing efforts? Events Marketing Which contempory marketing method is involve in hosting a themed event that is especially tailored for the product? Goals It serve as the main purpose of the company are are usually attained in the long term. Implementer The marketer makes sure that the strategy and production process are integrated and all customer insights are considered. Innovator Marketers are tasked with researching the kind of product the customers need and ensure that the product developed not only meets customer’s expectations but also exceeds them. Instigator Marketers serve as strategist who analyze current market trends to guide the actions of the company. Integrator The marketer mediates between the interest of the company and the needs of the consumers, ensuring that they are integrated into the development of the product. make a goal The marketer’s main responsibility is to ____________________________. Marketing It is the activity of the institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value of customers, Marketing Concept In this approach, the customers’ preferences-what they want, how much they are willing to pay, what form and feature they prefer, etc. –are prioritized. Mobile Promotion Which contemporary marketing method uses signs and ads mounted atop taxicabs, product logos painted on the sides of buses or vans or product stickers? New-generation Customers What kind of customers are younger and more open to new products and technologies? Objectives The specific goals that can be measured in the short term (one year or less) or the long term (more than one year). Old-generation Customers A kind of customer is tend to be loyal to traditional products and it would take time for them to adopt new products associated with technology? Outdoor Promotion Involves displaying promotional materials for products and services outdoors. Perceived Value This refers to the customer's assessment of the benefits gained from the product or service compared to the cost and competing offers Place Once the price is determined, the next issue to address is the distribution. Place Utility refers to the availability of the product or service a accessible locations. Possession Utiliity refers to ensuring that consumers have full possession of the product or service at the right time through fast payment processing ( cash or credit) and delivery Price With the right product, finding the right price is another challenge. Product The marketing process starts with creating a product that satisfies the needs and preferences of customers Having created the right product, determined the right price for it, and identified the right place and means of distribution, the marketer should now determine the means of communicatingthe marketer should now Promotion determine the means of communicating. Relationship Marketing This refers to strategies intended to establish and sustain desirable customer relationship. Social Media Marketing Contemporary Marketing method makes specific use of social networking websites and relevant applications in promoting a products and services. company’s  Task Utility refers to offering services which consumers may not be capable of doing or may not like doing to do themselves Telemarketing Contemporary Marketing Method is involve in promoting products or services through unsolicited telephone calls to identified potential customers? The Product Concept What concept of resources is focused on product improvement and innovation? The Production Concept What concept assumes that customers prefer products that are inexpensive, affordable, and widely available? The objective is to sell what is manifactured rather than manufacture what the market wants. The Selling Concept The Societal Marketing This marketing approach is also called green marketing and the producy is called grren product. Concept Time Utility refers to the satisfaction derived by customers in availing of products orservices on time. Traditional Marketing Refers to any type of promotion, advertising or campaign that has been in usse by companies for years, and that has a proven success rate. Approaches Underpromise and This strategy is often implemented in service that rely on the quick delivery of products and services. The staff promisses to delivera number of minutes and the product is actially given earlier than the time stated. Overdeliver Utility is the power of a good or service to satisfy a particularneed or want of a consumer