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Marketing
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1. Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. 2. Mass Marketing means marketing the mass produced goods. 3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company. 4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people. 5. Synchrome marketing means irregular demand. 6. De-marketing means the demand for the product exceeds the supply. 7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc 8. Consumer goods are required in large number and directly used by the consumer. 9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TV’s and refrigerator. 10. The client of an advertising agency is called Customer. 11. CRM means Customer Relationship Management. 12. Segmentation of consumer market is based on consumer characteristics and consumer responses. 13. B2B means – business to business 14. Database marketing is direct form of marketing. 15. A Buyers Market means supply exceeds demands 16. Niche market means a specified market for the target group. 17. HNI marketing means High Networth Individual. 18. Relationship marketing is useful for cross selling of products. 19. Good public relations indicate Improved marketing skills Improved brand image Improved customer service
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Transcript of Marketing
1.Marketingis the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.
2. Mass Marketingmeans marketing the mass produced goods.
3.Strategic marketingmeans decision making process that involves the analysis of the internal capabilities and external environment of a company.
4. Stimulation marketingmeans there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people.
5. Synchrome marketingmeans irregular demand.
6. De-marketingmeans the demand for the product exceeds the supply.
7. Producer goodsmeans goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc
8. Consumer goodsare required in large number and directly used by the consumer.
9. Derived goodsmeans the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TVs and refrigerator.
10.The client of an advertising agency is called Customer.
11. CRMmeans Customer Relationship Management.
12. Segmentation of consumer marketis based on consumer characteristics and consumer responses.
13. B2Bmeans business to business
14. Database marketingis direct form of marketing.
15.A Buyers Marketmeans supply exceeds demands
16. Niche marketmeans a specified market for the target group.
17. HNImarketing means High Networth Individual.
18. Relationship marketingis useful for cross selling of products.
19.Good public relations indicate
Improved marketing skills Improved brand image Improved customer service20. Marketing functions includes
Designing new products Advertisements Publicity After sales service21. Effective selling skills depends on
Effective lead generation Sales call planning Territory allocation Effective communication skills22. Marketing channels mean
Delivery period Delivery outlets Delivery time Delivery place23. Marketing information means
Knowledge level of marketing staffs Information about marketing staff Information regarding share market Knowledge of related markets24.ADSAmeans Direct Selling Agent.
25. Service marketingresorted to in Insurance companies and banks.
26. Service marketing is same as
Internet marketing Telemarketing Internal marketing Relationship marketing27. Market segmentation helps to determine target groups.
28. The seven Ps of marketing
Product Price Place Promoting Process People Physical Evidence29. SWOT Strengths Weakness Opportunities Threats.
30. Standard marketing practicesinclude lowering the selling price.
31.USPof a product means Unique Selling Proposition.Rosser Reeves coined the term USP.
32. MBOmeans Management by Objectives (Peter Drucker)
33.AIDA Attention Interest Desire Action
34.BTL Below the line
35.Right-time marketingis an approach to marketing which selects an appropriate time and place for the delivery of a marketing message.
36.A group of related products manufactured by a single company is calledproduct line.
37. MDSS Marketing Decision Support System.
38. Target group for the marketing of Internet Banking All the computer educated customers.
39. Innovationmeans new ideas and product designing.
40.Service after sale is not the function of marketing staff.
41.Agood sellershould have the following quality/qualities
Devotion to the work Sympathy Submissive42.Planned cost servicemeans additional profit on same cost.
43.A non-traditional, low-cost, flexible and highly effective marketing is termed asGorilla marketing.
44.Theaim of successful marketing isto increase the outlet of the seller.
45.Low end marketmeans a market for lower price products.
46.The strategy used to charge different prices for the same product is calledprice discrimination.
47.The system designed to supportmarketing decision makingis marketing information system.
48. Conversion in marketingmeans converting suspect into prospect.
49. MCmeans Marginal Cost.
50.Personalized marketing(also called personalization, and sometimes called one-to-one marketing) is an extreme form of database marketing.Personalizationtries to make a unique product offered for each customer.
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