3rd Monthly Exam

• need is one important component in the marketing of products it is the customer desire for a product or service
• wants are higher level human needs as the appeal more to the emotions
• food can be processed in different taste styles and menus that shall meet the human craving and satisfaction
• according to garovillas 2004 he started the marketing concept is a business philosophy which holds that the key to achieving organizational goals consist of determining the needs and wants of target markets and delivery the satisfaction more efficiently and efficiently than competitors do
• marketing must be customer oriented the planning and operation must be directed towards customer orientation
• marketing must be coordinated activities coordination activities must start in the product planning process the process
• marketing must be able to achieve the performance target goals and objective customer oriented and coordinated marketing aims to achieve its profit objectives and goals
• capturing marketing insights to overall direction must focus on its vision mission
• effective financial management system this system in the procurement of quality in affordable materials for processing of the product is a vital component in effective operation of the marketing system
• the value of human resources all business activities needs human resources and their operation
• the production process the process must conform to standards in terms of product quality
• the presence of competitors the marketing of products becomes interesting with the presence of competitors
• traditional concept marketing a marketing strategy a company uses to determine if it can produce a viable product consumer want or need but through the company can produce enough products to fill the need and the marketing method by which the need can be filled
• production concept focuses on the internal potentials of the company and not based on the desires and needs of the market
• marketing concept a philosophy which states that organization was try hard to find out and satisfy the needs and wants of consumers while at the same time accomplishing the organizational goals
• sales concept refers to the idea that people will buy more good and services through personal selling and advertising done aggressively to push them in the market
• relationship concept marketing and approach that the centers on maintaining and improving value added long term relationships with current customers distributors dealers and suppliers
• societal marketing concept views that organizations must satisfy the needs and consumer in a manner that gives our society's benefit
• maximize the consumption of goods the aggressive marketing strategies and policies had decreased the consumption of goods and services
• maximize consumer satisfaction the market demand is varied and customer satisfaction is the challenges of the marketing organization
• maximize choice of goods or service some marketers believe that the goal of marketing is to maximize the variety of product in the market and provide consumers a wide assortment of choices
• maximize the quality of life the improvement of the quality of life to target of marketing people
• key performance indicators used to check that the marketing activities of a company are on track these are specific metrics which are used to track performance to make sure the firm is on track and meet specific objectives
• traditional marketing and umbrella term that covers the wide array of advertising channels we see daily main could print media billboard and tv advertising flyer and poster campaigns and radio broadcast advertising
• marketing mix is made up of seven P's product place promotion price packaging positioning and people
• traditional marketing seeks to pull customers to a product whatever the cost considered to be at the outdated as it does not consider the customer they are selling to more the marketing that the company operates within
• contemporary marketing refers to marketing strategies that are consumer focused offers products and services based on what the target market desires rather than what the company wants them to have
• search engine optimization concerned with increasing a businesses visibility and rankings on search engine result pages
• pay per click advertising presented on search engine result pages or web pages based on the number of times someone clicks on the ads
• email marketing distribution messages through emails
• referral marketing customer is pleased with the results gotten from a product refers the product to another person
• affiliate marketing third party promotes a product and earns commission
• video marketing most interactive types of online marketing
• inbound marketing powerful contemporary marketing strategy that focus on a different tactics to draw consumers in and convince them to buy goods
• green marketing refers to the process of selling products and or services based on their environmental benefits
• according to gilaninia et al 2011 relationship marketing involves maintaining and enhancing strong relationships with customers and other stakeholders
• basic the company salesperson sells the product but does not follow up in any way
• reactive that salesperson sells the product and encourages the customer to call whenever he or she has any questions or problems
• accountable though salesperson phones to customer a short time after the sale to check whether the product is meeting the customers expectations
• proactive the salesperson or others in the company phone the customer from time to time with suggestions about improved product use or helpful new products