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MKTG Lists

Terms in this set (14)

steps in the marketing process
1. understand the marketplace and consumer wants and needs
2. design a customer-driven marketing strategy
3. construct an integrated marketing program
4. engage customers and build profitable relationships
5. capture value from customers
designing a customer value-driven marketing strategy
1. production concept
2. product concept
3. selling concept
4. marketing concept
5. societal marketing concept
steps in strategic planning
1. define company mission
2. set company objectives and goals
3. design the business portfolio
4. planning marketing and other functional strategies
marketing research process
1. define the problem and research objectives
2. develop the research plan
3. implement the research plan
4. interpret and report the findings
buyer decision process
1. need recognition
2. information search
3. evaluation of alternatives
4. purchase decision
5. post purchase behavior
customer-driven marketing strategy
1. market segmentation
2. market targeting
3. differentiation
4. positioning
New product development process
1. idea generation
2. idea screening
3. concept development/testing
4. marketing strategy development
5. business analysis
6. product development
7. test marketing
8. commercialization
advantages of online transactions
1. faster
2. easy to track
3. more convenient
4. decreased search time
5. impulse buying
one-to-one marketing and personalization benefits
1. better feedback
2. better insight
3. target specific segments
4. customer focused
steps in advertising media selection
1. determine reach, frequency, impact, and engagement
2. choose among major media types
3. selecting specific media vehicles
4. choose media timing
advantages of digital and direct marketing compared to traditional marketing efforts
1. digital is direct
2. cheaper
3. high response rate
4. targets specific audiences
5. access to comparative information
6. convenient
advantages of digital and direct marketing compared to non-digital
1. immediate
2. broad scale
3. creates multiple channels
4. allows for target marketing
5. less expensive
role of viral marketing, how it works
1. digital word of mouth
2. amplification
3. shortens the marketing time frame
4. expands the market
benefit of the internet in marketing capabilities
1. one-on-one marketing
2. immediate
3. inexpensive
4. wide reach
5. provides information on the customer
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