Essentials of Marketing
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| If a firm's salesforce pressures potential customers to purchase services they cannot afford or need, but they require that salesforce to work one week a year for Habitat for Humanity, that firm is | show 🗑
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| In what way does corporate social responsibility differ from conscious marketing? | show 🗑
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| show | o Stage 1 - identify issues
o Stage 2 - gather info and identify stakeholders
o Stage 3 - Brainstorm and evaluate alternatives
o Stage 4 - choose a course of action
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| show | o Planning phase
o Implementation phase
o Control phase
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| show | o An example that includes elements of the employees, customers, the marketplace, and society. Patagonia or REI are perfect examples.
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| show | Although CSR is an important element of conscious marketing, it is not the same thing. The coming of conscious marketing organizations is a complex effort. And for some firms, it may prove virtually impossible to achieve
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| show | o Most students will consider Walmart a practitioner of CSR and not a conscious marketer.
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| show | o Recognition of marketing's greater purpose, consideration of stakeholders and their interdependence, the presence of conscious leadership creating a corporate culture, and the understanding that decisions are ethically based.
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| show | o Four Ps (product, price, place, promotion)
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| On the other hand, the growth strategy that involves the firm attempting to grow by attracting a new market to its existing products is called what? | show 🗑
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| show | o The FTC publishes recommendations to help influencers engage in ethical marketing such as mentioning endorsements or using #ad in their posts.
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| show | o Experience the product
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| · What are the seven types of customer motivations for using mobile apps? | show 🗑
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| show | o connected, network, information, dynamic and timeliness
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| show | o Excite customers with relevant offers.
o Educate them about the offering.
o Help them experience products, whether directly or indirectly.
o Give them an opportunity to engage with the firm's digital marketing activities
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| show | Diversification
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| · What type of strategy is growing the business from existing customers? | show 🗑
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| · What are the four growth strategies? | show 🗑
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| show | o The firm is able to sell fewer products.
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| · What is STP? | show 🗑
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| · List the four macro strategies that can help a firm develop a sustainable competitive advantage. | show 🗑
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| show | o identifies (1) a firm's target market(s), (2) a related marketing mix (its four Ps), and (3) the bases on which the firm plans to build a sustainable competitive advantage.
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| · Which of the following is not a function of marketing's value creation process? | show 🗑
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| show | o No, value-based marketing is about creating strong products and services.
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| show | o PRODUCTION, SALES, MARKETING, CURRENT VALUE BASED ERA
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| · What are the 4 components of the marketing mix? | show 🗑
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| show | needs and wants
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| · What is the definition of marketing? | show 🗑
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Created by:
jefferycwilliams765