Marketing Functions and Strategies
The process of creating, communicating, delivering, and exchanging offerings that provide value to customers, clients, partners, and society at large.
Marketing
The process of creating a unique name, design, symbol, or combination thereof, that identifies and differentiates a product or organization from its competitors.
Branding
A technology and strategy used to manage all interactions and relationships with current and potential customers, with the goal of improving customer loyalty and retention.
CRM
The business doesn't have an official way to collect customer feedback
Weakness
Light Donkey
Dark Horse - Katy Perry
May the force be with you
Star Wars
Name 2 of the 7 functions of marketing
Product/Service Management, Pricing, Promotion, Distribution (Place), Selling, Market Information Management, and Financing
The visual and non-visual elements (such as logo, slogan, and brand personality) that a company uses to create a desired perception of its brand in the minds of consumers
Brand Identity
The tendency of customers to repeatedly purchase a particular brand or patronize a specific business over time due to a fondness of the brand or product.
Customer Loyalty
A new competitor has opened across the street offering lower prices and faster service
Threat
Rolling Next to the Halloween Flower
Rockin' Around the Christmas Tress
That's my secret Cap, I'm always angry
The Avengers
The controllable set of tools that a company uses to produce the response it wants in the target market – Product, Price, Place, and Promotion.
Marketing Mix (4 Ps)
The current perception or set of beliefs that consumers hold about a particular brand.
Brand Image
The ability of a company to keep its customers over a specified period
Customer Retention
The business recently upgraded its website, making it easier for customers to place orders online
Strength
Nice Winter
Cruel Summer - T Swift
'I like my life a quarter mile at a time'
The Fast and The Furious
The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics. Common segmentation variables include demographics, psychographics, geographics, and behavior.
Market Segmentation
A paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.
Advertising
Information collected about customers, such as demographics, purchase history, and interactions with the company, used to understand their needs and preferences.
Customer Data
Online reviews reveal customer wait times are longer than expected
Weakness
You Forget Nothing
I remember Everything - Zac Brown Band and Casey Musgraves
'Look at me, I'm the captain now.'
Captain Phillips
A comprehensive document outlining a company's overall marketing strategy, including objectives, target markets, and specific marketing activities.
Marketing Plan
Activities aimed at establishing and protecting a positive image of a company or its products/services in the eyes of the public.
Public Relations (PR)
Tailoring marketing efforts and customer experiences to individual customer preferences based on collected data.
Personalization
An economic downturn has caused many customer to cut back on non-essential spending
Threat
Good Plan, Wrong?
Bad Idea, Right? Olivia Rodrigo
Mean Girls