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Stack #4592763

QuestionAnswer
Marketing The process of creating, communicating, and delivering value to customers and managing relationships to benefit the organization and its stakeholders.
Key idea of Marketing Understand customers' needs and satisfy them better than competitors.
Product (4 P's of Marketing) What you sell (goods/services) ex) features, quality, branding
Price (4 P's of Marketing) How much it costs ex) penetration, skimming, discount, competitive pricing
Place (4 P's of Marketing) Where/how customers buy ex) distribution channels, online vs offline
Promotion (4 P's of Marketing) How you tell customers ex) advertising, PR, sales promotions, personal selling
Additional P's for services People, Process, Physical Evidence.
Marketing Processes Strategic Marketing, Operational Marketing, Product/Service Development,Sales & Distribution, Customer Relationship Management (CRM), Digital Marketing
Strategic Marketing Long-term planning, goal setting, market positioning.
Operational Marketing Day-to-day campaigns and promotions.
Product/Service Development Creating and launching new products.
Sales & Distribution How products reach customers efficiently.
Customer Relationship Management (CRM) Building long-term loyalty.
Digital Marketing Marketing using online tools and platforms.
Market Research Purpose Understand customers, competitors, and market trends.
Market Segmentation Divide market into smaller groups with shared characteristics.
Demographic Segmentation Age, gender, income.
Geographic Segmentation Location, climate.
Psychographic Segmentation Lifestyle, values.
Behavioral Segmentation Buying habits, usage rate.
Target Market The specific group of customers you focus on.
Positioning How you want your product/service to be seen compared to competitors.
Marketing Mix Product, Price, Place, Promotion strategies.
Brand Identity of the company/product (name, logo, reputation).
Consumer Behavior Why people buy. ex) Wants vs. Needs, Psychological factors, Social factors, Personal factors
Marketing Strategy Long-term plan to reach business goals and target customers.
Sales & Distribution Channels Direct and indirect selling methods.
Digital Marketing Basics Fundamentals of online marketing strategies.
Customer Relationship Management (CRM) Tools Loyalty programs, email automation, feedback surveys.
Lead Potential customer.
Conversion When a lead becomes a paying customer.
Market Share Percentage of total sales a company has.
Brand Loyalty Customers consistently choosing your brand.
USP (Unique Selling Proposition) What makes your product different.
Created by: Shrey_kalaria
 

 



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