Seven Pillars of Marketing
Definition: Determining prices for products in order to maximize profit.
What is Pricing
Are those which are produced by many companies and, because of similarities, can be used interchangeably.
What are Parity Products?
American Airlines maintains frequent flyer program to reward customer loyalty with free flights, upgrades, and discounts
What is Relationship Marketing
Allows companies to better understand consumer needs and behavior of their target customers
What is Customer Analysis
Food, drink, and rest.
What are Physical Needs?
Definition: Obtaining the money necessary for business operations
Are those which are meant to replace products considered inferior in the minds of some.
-for example: bottled water, calorie-free diet soda, prepared grocery store meals.
What are Negative Driven Products?
Business Technology Association sells fax machines, copiers, and printers to offices in other businesses
What is Industrial Marketing
Is the process of designing, creating, and marketing new products or service to benefit customers.
What is Product Development
Love, status, esteem, friendship.
What are Social Needs?
Definition: Providing consumers with the products and services they desire
What is Selling
Are items customers do not yet know they want or need to buy.
What are Unsought Products?
Zappos has banners on most social media sites to attract customers
What is Internet Marketing
Is the value which is put to a product or service
What is Pricing
What are Personal Needs?
Definition: Developing, improving and maintaining a product mix.
What is Product/Service Management
Includes staples and impulse items. (Without much of a thought or plan to buy.)
What are Convenience Products?
Nike NikeiD program allows customers to design their own Nike shoes
What is Societal Marketing
Identifies one sellers good or service as distinct from those of other sellers
What is Branding
Example of this consumer need, "THE headache medicine" (Excedrin)
What are Safety Needs?
Name all Seven pillars of Marketing
Example: Wedding dresses, diamonds, sports memorabilia.
What are Specialty Products?
Redbox customers could send a text and in return received a discount on movie rentals
What is Mobile Marketing
Is the process of making products or services available for use or consumption by a consumer or business
What is Sales and Distribution
From bottom to top, name the levels of the Hierarchy of Consumer Needs
What are Physical Needs, Safety Needs, Social Needs, and Personal Needs?