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Principles of marketing
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Cards (33)
Organizational functions and set of process for creating, communicating and delivering value
Marketing
What is the 3 concept of marketing?
Product
concept
Selling
concept
Marketing
concept
What concept is continuous product improvement
Product
concept
What concept is unsought or unwanted goods?
Selling
concept
What concept is customer first?
Marketing
concept
What is the 5 era of marketing?
Production
era
Sales
era
Marketing
era
Relationship
era
Social
era
What era of marketing is industrial revolution?
Production
era
What era of marketing is high end brands?
Production
era
What era of marketing is advertisements?
Sales
era
What era of marketing is independent department?
Marketing
era
What rea of marketing is customer loyalty?
Relationship
era
What is the meaning of CSR?
Corporate social responsibility
What era of marketing is Corporate social responsibility (CSR)?
Social era
What year is the production era
1925
What year is the sales era
1920s-1950s
What year is the marketing era?
1950s-1960s
What year is the relationship era?
1960s-1979s
What year is the social era?
1975
Who said this "It takes months to find a customer seconds to lose one "
Vince Lombardi
What did vince lombardi say?
It takes
months
to find a
customer
,
seconds
to
lose
one
Bussiness tactic that emphasis "point of sale" trades
Transaction based marketing
Focused on attracting customers, Convert them to customers and complete sales transaction.
Transaction based marketing
Focus on expansion, evaluation and keeping customers in a long term.
Relationship marketing
What is the 2 marketing relationship?
Internal marketing relationship
External marketing relationship
Suppliers, customers, referral
External marketing relationship
Employees, business partners
Internal marketing relationship
Store profile of customers relationship management
Data base
How to maintain relationship marketing? 1-3
Be relevant
Provide value
Welcome dialogue
How to maintain relationship marketing? 4-6
Be responsive
Be respectful
Be authetive
What is the 3 level of relationship marketing?
1st level:
focus
on
price
2nd level:
social interaction
3rd level:
interdependent
partnership
How to keep customers (3)
Customer churn
Frequency marketing
Affinity marketing
Reasons why customer leave
1st.
Boredom
2nd. No longer have a need for
product
3rd. Move to a
new
location
4th.
prefer
competing
produces
Essential component of an excellent customer service.
1
Prioritize
each customer
2 Strive to a great
reputation
3
Apologize
when needed
4 Be
reachable
5 Focus of delivering
consistent experience