Introduction to Marketing
What is a MARKET
Group of Consumers who share common wants & needs
gathering information about consumers and trends and competitors
MIS
What is promotion
making people aware of product
George sold Sandy a new living room set. Which action should George do as an effective follow-up to provide good service and develop a strong relationship with her?
Customer Relationship Management
all about forming long term relationships with customers for enhanced customer loyalty
Customer Relationship Marketing
What is function of Marketing that caters to availability of goods & services to consumers
Distribution
facts about population including: age, gender, location, and income
Demographic Research
deciding how much to charge for a product
Pricing
when a particular information about a product/ brand spreads like a forest fire
Viral Marketing
Targeting is the process of dividing a heterogeneous market into homogeneous sub-units for effective marketing
False
This marketing function provides information to consumers that will assist them in making a decision to purchase a good or service?
Pricing
study about various innovations to do with a particular concept product
Product Research
A unique identity / logo/ symbol pf a product/company
Brand
What is gets out to a huge number of customers, low cost.
Mass Marketing
pull strategy where retailers constantly remind and induce customers to buy adopting the low pricing strategy
Online Marketing
This is a transaction between the seller and the buyer or buyers (the target market) where money (or something considered to have monetary value) is exchanged for goods or services.
Selling
study sales potential in a particular area and set targets
Sales Research
the pricing concept of charging very high at the launch due to no competition & eventually lowering price when competitors step in
Price Skimming
when marketing strategies are designated for specific customers.
Niche Marketing
Positioning is the image that a product produces in the mind of customers in comparison to the competitors
True
food, water, shelter
Needs
systematic, gathering of information to understand customer needs, wants with intentions to satisfy them
Marketing Research
Paid form of Communication
Advertising
transaction of products between businesses for use in production/ distribution
B2B
when you do segmentation on basis of lifestyle, personality, attitudes, perception
Psychographics