To Market, To Market, To Buy A Fat ***
*Title censored for religious reasons
Exam blues are here again repeating itself at the end of each 6 week cycle. This time around, its "Marketing". Egad, didn't realize how much research and analysis that goes into determining consumer's buying behaviour and business markets. Wish me luck! *SIghz*
Exam blues are here again repeating itself at the end of each 6 week cycle. This time around, its "Marketing". Egad, didn't realize how much research and analysis that goes into determining consumer's buying behaviour and business markets. Wish me luck! *SIghz*
1 comment:
Aww, you don't need luck. All you need to know is that Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others. It is about managing profitable customer relationships by attracting new customers and retaining and growing current customers. The Marketing Process is a 5 step process, whereby you have to Understand the marketplace and customer needs and wants, Design a customer-driven marketing strategy, Construct a marketing program that delivers superior value, Build profitable relationships and create customer delight and Capture value from customers to create profits and customer quality. The core concepts of marketing include Needs, a state of felt deprivation.
Wants, the form of needs as shaped by culture and the individual, and demands, wants which are backed by buying power. A marketing offer is a combination of products, services, information or experiences that satisfy a need or want. This offer may include services, activities, people, places, information or ideas. Under value, customers form expectations regarding value. Marketers must deliver value to consumers. A satisfied customer will buy again and tell others about their good experience. Exchange is the act of obtaining a desired object from someone by offering something in return. One exchange is not the goal, relationships with several exchanges are the goal. Relationships are built through delivering value and satisfaction. Marketing management is the art and science of choosing target markets and building profitable relationships with them. CRM – Customer relationship management, is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. It deals with all aspects of acquiring, keeping and growing customers. Customer delight leads to emotional relationships and loyalty, where else Customer Lifetime Value shows true worth of a customer. Share of customer’s purchase in a product category. It is achieved through offering greater variety, cross-sell and up-sell strategies.
Gee, and that's only part of Chapter 1...
All the best, sweetie. You really don't need luck, cos you're already gonna be over-filled with blessings instead =)
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