Lecture 1 - Marketing Orientated market nd lecture 2 Flashcards Preview

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Flashcards in Lecture 1 - Marketing Orientated market nd lecture 2 Deck (12)
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1

What is the CIM definition of marketing?

Marketing is the management process responsible for identifying,anticipating and satisfying customer requirements profitably

2

What are the three types of marketing?

1) B2B
2) B2C
3) Social marketing - not for profit organisations

3

What are the 6 stages to the development of marketing?

1) Production era - Focus on the production and manufacturing
2)Product- Focus on the goods and there quality
3)Sales- Focus on the types of sales promotion used
4)Marketing- Identifying and meeting customer needs
5)Relationship era- Building and maintaining value relationship's
6)Sustainability era

4

What is marketing orientated management?

- A business perspective that puts the customer first
- The organisation develops and performs its production and marketing activities with the needs of the buyer in mind

5

According to Day 1998 what are the 4 elements of marketing orientation?

Culture
Capabilities
Structure
Strategic thinking

6

What are the 4 Ps of the marketing mix?

- Price
- Product
-Place e.g point of sale
-Promotion e.g promotion,personal selling

7

What are the extra three Ps in the marketing mix?

-People
-Physical evidence
- Process e.g distribution

8

What does is IceDrips?

Environmental analysis tool

9

What does icedrips stand for?

innovation
competitor analysis
economic environment
demographic
Regulatory
Infrastructure
Partnership
Socio-cultural

10

What is Kotlers philosophy on the marketing environment?

' A complex set of interacting forces and influences that can significantly affect the success of marketing activities and determine the future of the whole organisation' KOTLER 1999

11

What is CMR?

Customer relationship management - companies have moved their focus from transaction based to relationship centred

12

What is the 80/20 rule?

- One time purchases don't keep the businesses going its the repeat buyers that do
-80/20 rule means that 80% of profits come from 20% of customers