Marketing Essay

1679 words - 7 pages

ng S.No | TERMS | DEFINITIONS |
1 | Lead generation | The process of finding people (consumer or business) with a qualified interest in a certain product or service. |
2 | Lapsed Customer Rejuvenation | The process of re-contacting 'former' customers and following up on 'lost orders/old quotations' with the objective of generating new leads. |
3 | Market segmentation |  Process of dividing the market into smaller groups that share one or more characteristics. |
4 | Marketing mix |  Usually refers to McCarthy's '4 P's': Promotion, Place, Price and Product. Other words beginning with P (eg People and Process) are sometimes also included. |
5 | Positioning |  Deciding where your ...view middle of the document...

|
14 | Lead generation | The process of finding people (consumer or business) with a qualified interest in a certain product or service. |
15 | Lapsed Customer Rejuvenation | The process of re-contacting 'former' customers and following up on 'lost orders/old quotations' with the objective of generating new leads. |
16 | Market segmentation |  Process of dividing the market into smaller groups that share one or more characteristics. |
17 | Marketing mix |  Usually refers to McCarthy's '4 P's': Promotion, Place, Price and Product. Other words beginning with P (eg People and Process) are sometimes also included. |
18 | Positioning |  Deciding where your product fits in, and how it should be perceived, in relation to its competitors. |
19 | Business to Business (B2B) | Can refer to a market, product or industry whereby the context is of a firm selling to another organisation to either use the product or service or change into another product or service, rather than a consumer buying for personal consumption |
20 | Business to Consumer (B2C) | Can refer to a market, product or industry whereby the context is of a firm selling to an individual for his own personal consumption, rather than to an organisation for their use or consumption |
21 | Buyer Behaviour | The stages that buyers go through when buying goods or services. There are many factors that influence buyer behaviour . |
22 | Buying signal | A communication from a prospect indicating they are ready to make a purchase. Buying signals may be non-verbal, such as a nod, or verbal. |
23 | Channel of Distribution | Channelling goods from their origin to their ultimate destination and involves the use of intermediaries, or middlemen such as wholesalers and retailers. Factors that impact the selection of channels include: the customers, the product, competitors, size and resources, channel power |
24 | Commission | Remuneration paid to a salesperson following the successful completion of a sale; is usually a percentage of sales revenue |
25 | Communications Research | Research aspects of promotions decisions. Cooper identifies 4 key areas : effectiveness research, media selection, copy testing and sales force effectiveness |
26 | Competitive Parity | A pricing strategy whereby a firm charge a price similar to other brands or the market leader. The objective is to prevent a price war and the firm should have a differential advantage other than price |
27 | Concentrated Strategy | One of three target marketing strategies. It is where the firm targets a niche market with one specific tailored marketing mix |
29 | Concession Close | This way of closing the sale is where the salesperson keeps one possible concession back as a way of encouraging the prospect to make the decision, for example if the prospect will place the order today the sales person will give them an extra 1% discount |
30 | Corporate Hospitality | A PR technique of entertaining...

Other Papers Like Marketing

Marketing Essay

1086 words - 5 pages LOGO PRINCIPLES OF MARKETING BA003IU Nguyen Thi Hong An Nguyen Thi Hong An 1 Chapter 3 Analyzing the Marketing Environment 2 Nguyen Thi Hong An Lecture outline • Describe the environmental forces that affect the company’s ability to serve its customers • Explain how changes in demographic and economic environments affect marketing decisions • Identify the major trends in the firm’s natural and technological

Marketing Essay

518 words - 3 pages Marketing Strategies Week 14/8/2014 Skymeisha Gallion | Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered around the key concept that customer satisfaction is the main goal. Marketing strategy is a method of focusing an organization's energies and

Marketing

7722 words - 31 pages Chapter 1 Marketing: Managing Profitable Customer Relationships GENERAL CONTENT: Multiple-Choice Questions 1. Central to any definition of marketing is _____. a. demand management b. transactions c. customer relationships d. making a sale e. making a profit (Answer: c; p. 5; Easy) 2. All of the following are accurate descriptions of modern marketing today, except which one? a. Marketing is creation of value

Marketing - 1588 words

1588 words - 7 pages Shaye Clubb V. Marketing Strategy Chipotle has a marketing strategy that is unlike any company we have seen in the food service industry. They have strived to reach their audience in a unique and effective way. By achieving this, it is strengthening the company as well as multiplying the consumer base. In the section of the Chipotle’s marketing plan we will analyze how exactly they market their product by showing what has been proven a

Marketing - 1759 words

1759 words - 8 pages MARKETING STRAGETIES: Successfully marketing an apartment complex requires you to find people who are seeking housing and place your advertisements in front of them at the right time and place. As you consider marketing strategies, list the places your target renters or buyers are likely to go when searching for properties. Be sure that your marketing materials are present in each place. Banners: One of the most effective ways to market

Marketing - 1187 words

1187 words - 5 pages further innovation and creates all kinds of impossible. G-shock (G-700BD-1AV) in the print, which is the official offer of around RMB1200. (Casio, 2009) 1.2Theories According to (Hall, Jones, Raff, 2009:75) marketing mix is a basic concept in marketing, referring to companies according to customer needs and business marketing goals to determine the best combination of controllable marketing factors. The main purpose of marketing is to meet the

Marketing - 1445 words

1445 words - 6 pages Running head: USING PERCEPTUAL MAPS IN MARKETING Using Perceptual Maps in Marketing Simulation MKT/421 The Situation Producing more than 200,000 “plus” units per year, Thorr Motorcycles, is a billion dollar manufacturing company. Thorr also offers such services as dealer training, dealer software packages, motorcycle rentals, and rider training, just to name a few. The image that CruiserThorr symbolizes is one of

Marketing - 3595 words

3595 words - 15 pages ili interaktiven marketing........................................................... str.12 Planirawe na promotivniot miks.................................................................... str.13 Podgotovka i buxet............................................................................................... str.14 Izbor na promotiven miks.................................................................................. str.15 Evaluacija

Marketing - 4783 words

4783 words - 20 pages Marketing Plan Guide: Let Me Market You Keller Graduate School of Management MBA, Marketing MKTG522 Marketing Management 9/20/2013 MKTG522 Marketing Plan Guide 1.0 Executive Summary 2.0 Situation Analysis 2.1 Market Summary 2.2 SWOT Analysis 2.3 Competition 2.4 Product (Service) Offering 2.5 Keys to Success 2.6 Critical Issues 3.0 Marketing Strategy 3.1 Mission 3.2 Marketing

Marketing - 2365 words

2365 words - 10 pages Marketing 101: Major essay In regards to the given quotation, it is evident that throughout time consumer choice has gradually changed to suit their specific needs and also the needs of their environment. This can be seen with the concept of sustainable development of resources to ensure the protection of the environment. Actions and products to help this cause which companies have developed are eco friendly products, for this specific

Marketing - 1670 words

1670 words - 7 pages Major Assignment Vick VapoDrops varieties 20s June 2011 Table of content I. Introduction 3 II. SWOT matrix 4 III. Marketing mix strategies (4’P) 7 1. Product 7 2. Price 7 3. Place/Distribution 8 4. Promotion 9 IV. Conclusion 10 V. References 11 Introduction. The first Vicks VapoDrops medicine was created and sold in the 1890s by a pharmacist, Lunsford Richardson in

Related Essays

Marketing Essay 2441 Words

2441 words - 10 pages 1 Marketing Operations Term Paper By Richard Adams2 Introduction A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a product/service because they have a need, or because a product/service provides a perceived benefit. Two major factors of marketing are the

Marketing Essay 1436 Words

1436 words - 6 pages x OLC EUROPE UNIT 4 MARKETING PRINCIPLES QCF LEVEL 5: BTEC HIGHER NATIONAL ASSIGNMENT Assessment title: Marketing Principles Lecturer: Issued date: Submission date: Task One Task Two Task Three Task Four Learning Outcomes LO1 Understand the concept and process of marketing LO2 Be able to use the concepts of segmentation, targeting and positioning LO3 Understand the individual

Marketing Essay 336 Words

336 words - 2 pages WHAT IS MARKETING: is the organization function and set up process for creating communicating and delivering value to the organizations stakeholders and managing costumer’s relationships in the way that is profitable for the company. WHAT IS THE GOAL OF MARKETING: The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensure profitability. VALUE IN MARKETING: Is the difference

Marketing Essay 1104 Words

1104 words - 5 pages Ladies and gentlemen. Thank you for coming to my presentation today. My name is Quynh Trang. I’m from class English 2- High quality Banking and Finance. Now, I would like to tell you about one of the most important factors that makes successful business. Can you guess? Yes, it is marketing. I shall only take about ten minutes of your time, but my presentation will give you helpful information about marketing, especially marketing mix and how to