consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer.
100
What is a customer
Person that buys/uses your products
100
What is pricing
Establishes products’ prices
Determines whether prices need to be adjusted
Sets policies and objectives for prices
100
What is culture
The behavior, beliefs and, in many cases, the way we act learned by interacting or observing other members of society
100
What is perception
Exposure, awareness, attention, and retention
200
What is the role of marketing
Marketing is responsible for develop satisfying relationships with customers that benefit both the customer and the organization
200
What is Customer Contact Points
In person, Telephone, Internet, Kiosks, In- Person Product Support, and Financial Assistance
200
What is selling
Creates a following of loyal customers
Completes the exchange transaction
Provides services for customers
200
What is a group
social class, family, and reference group
200
What is knowledge
What do they already know?
How do they learn more?
How do they filter knowledge?
300
What is criticism of marketing
Marketing Encourages People to Purchase What They Do Not Need
Marketers Embellish Product Claims
Marketing Discriminates in Customer Selection
Marketing Contributes to Environmental Waste
Marketing Encroaches on Customers’ Right to Privacy
300
What is consumer buying
Need/Want/Desire is Recognized
Search for Information
Evaluate Options
Purchase
After Purchase Evaluation
300
What is a good customer
offering feedback on company performance
making prompt payment
offering suggestions for new products
voluntarily promoting the company’s products to others
300
What is situation
Physical Environment
Emotional State
Time Constraints
300
What is attitude
What a person feels or believes about something?
How the person acts based on those beliefs?
400
What is a market
A market comprises all customers who have needs that may be fulfilled by an organization’s offerings.
400
What is Influences of Consumer Purchasing
Internal, External, and Marketing
400
What is modes of consumer purchasing
Need/Want/Desire is Recognized
Search for Information
Evaluate Options
Purchase
After Purchase Evaluation
400
What is external influences
culture, group, and situation
400
What is personality
The sum of sensory experiences others get from an experience
Person, Place or Thing
Self Concept - how you view yourself vs how others view you
500
What is market segmentation
Identify segments within the overall market
Choose the segment(s) that fits best with the organization’s objectives and goals
Develop a marketing strategy that appeals to the selected target market(s)
500
What is customer relationship management
Everyone owns responsibility for customer attraction, acquisition and retention. Utilizes technology to share customer experience
like training, repair, financial assistance, complaint resolution
500
What is business buying
Need Recognition
Search
Evaluate Options
Purchase
After-Purchase Evaluation.
500
What is external factors
it can be social, legal, technological changes, and economic
500
What is lifestyle
The way we live through the activities we engage in and interests we express.