Flashcards
Principle of Marketing Chapter 1
Cards in this deck (15)
- 1What benefits are considered to be consumer value?Quality, price, convenience, delivery, and both before and after sale services
- 2What are the 4 P's of the marketing mix?Product, price, place, promation
- 3A specified group of existing/potential consumers that marketers direct their efforts toward is called a _____________Target Market
- 4What are the 3 steps in the marketing process?1. Identifying consumers needs
2. Managing the marketing mix to meet these needs
3. Realizing profits - 5Organizations creating long-term links with their customers, employees and other partners to increase loyalty and customer relations is called _____________Relationship marketing
- 6What is the purpose of Partnership marketing?To create associations between brands that will result in incremental business for both brands that could not have been achieved seperatly
- 7What factors contribute to a businesses long-term stability?Financial results
Social performance
Impact on the environment - 8What is the purpose of the Canadian Association?To encourage high marketing standards that are honest, truthful
- 9What is real-time marketing?When brands make themselves relevant online during events to newsworthy occurrences by creating or joining conversations as they occur.
- 10What is metrics?numeric data that is collected and grouped to track performance
- 11Hows is metrics usually presented?Through dashboards and spreadsheets.
- 12What is a Dashboard?Visual data using graphs, charts, and numbers so that data is easy to use and understand.
- 13What is Analytics?The process of taking metric data and applying smart thinking and technology the gain actionable insight that can help make better business positions.
- 14What dis GreenwashingWhen a company portrays it'self to be environmentally conscious when it is not.
- 15When marketers create opportunities to directly interact with a business it is called ______________Experiential Marketing
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- 1 Principle of marketing Flashcards on Principle of Marketing Chapter 1, created by quick.silver689 on 19/10/2015.
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