Creating Customer Value
Process where companies engage customers, build strong customer relationships, & create customer value in order to capture value from customers in return.
What is Marketing
The process of developing & maintaining a strategic fit between the organization goals & capabilities and its changing marketing opportunities.
What is Strategic Planning.
The two environments within the Marketing Environment.
What are Micro environment and Macro-environment.
Collections of consumer and market information obtained from data sources within the company network.
What is Internal Data
Cultural, Social, Personal, Psychological
What are the Factors Influencing Consumer Behavior
It is the art and science of choosing target markets and building profitable relationships with them.
What is Marketing Management.
A statement of the organizations purpose.
What is Mission Statement.
The Company, Suppliers, Marketing Intermediaries, Competitors, Publics, Customers.
What are the Actors in the Micro-Environment.
Systematic design, collection, analysis and reporting of data relevant to a specific marketing situation.
What is Marketing Research
Self-actualization, Esteem, Social, Safety, Physiological
What are Maslow's Hierarchy of Needs
Product, Price, Promotion and Place are known as?
What are The Four P's of Marketing
The Star, Question Mark, Cash Cow, and Dog make up what matrix.
What is the Growth-Share Matrix.
Demographic, Economic, Natural, Technology, Political, Cultural.
What are Major Forces in the Company's Macro-environment.
A form of observational reserch that involves sending trained observers to watch and interact with consumers in their "natural environments"
What is Ethnographic Research
Need recognition, Information search, Evaluation of alternatives, Purchase decision, Post-purchase behavior.
What is the Buyer Decision Process
This is the extent to which a product's perceived performance matches a buyer's expectations.
What is Customer Satisfaction.
Market Penetration, Product Development, Market Development, and Diversification make this up.
What is the Product/Market Expansion Grid.
Generation born in the years following WWII through 1964.
What are Baby Boomers.
Using online consumer tracking data to target advertisements and marketing offers to specific consumers.
What is Behavioral Targeting
Awareness, Interest, Evaluation, Trial, Adoption.
What are the Stages in the Consumer Adoption Process
This involves using digital marketing tools such as web sites, social media, mobile ads and apps, online videos, e-mail, and blogs that engage consumers anywhere, at any time, via their digital devices.
What is Digital and Social Media Marketing.
They are Acceptability, Affordability, Accessibility, and Awareness.
The Four A's of Marketing.
Laws, Government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.
What is the Political Environment.
Customer Relationship Management.
What is CRM
Innovators, Early Adopters, Early Mainstream, Late Mainstream, Lagging Adopters.
What are the Adopter Categories.