Marketing Functions
the process of gathering qualitative and quantitative data about consumers’ needs and wants
market research
When customers take to social media outlets to pose questions, make inquiries, and complain about services that are dissatisfied with, who takes the time to respond to them??
customer service
What is the first step in the social media marketing process?
Establish a social brand
a specific group of people a business focuses on selling their product to
target market
harnesses digital communication to execute the foundation of marketing, which is the process or technique of promoting, selling, and distributing a product
social media marketing
______________ focuses on distribution and involves making decisions about how, when, and where products will travel from producers to customers
channel management
a statement assuring consumers of a product or service’s value
brand promise
What is it called when a company & customer have ongoing dialogue that leads to sales?
engaging the customer
a form of digital communication through which users create online communities to share content and information
social media
What is a tangible item that is produced and sold to customers?
good
are the messages marketers send to customers to influence purchases
promotion
the single most significant contrast between SMM and traditional marketing
engaging customers
When putting together a marketing plan, it is important that marketers develop of ____________
strategy
a plan for how a business should appear to customers and competitors
brand strategy
what is a formulated thought or opinion?
idea
determines specifications and features of products that are desirable to consumers
product & service management
What is the ultimate goal of marketing?
generate sales
What is it called when a social media marketer analyze how successful their strategies were and use that to shape future marketing decisions?
monitor the results
details the steps required for creating and maintaining an online business presence through social media
social media marketing plan
What are the three elements of the marketing concept?
customer needs, company goals, profits
What are FOUR of the SEVEN marketing functions?
Channel Management, Marketing Information Management, Marketing Planning, Pricing, Product & Service Management, Promotion, & Selling
What are THREE of the SEVEN uses of social media in marketing?
Promotion, engaging customers, customer service, brand building, research, sales, & integrating with traditional marketing
What are TWO of the FOUR steps in the social media marketing process?
establish a social brand, develop a strategy, engage the audience, monitor the results
The percentage of the market for a product or service that a company supplies is known as what?
market share
What are the four P's of the market mix?
product, price, place, promotion