Marketing Campaign

marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

marketing concept

a three part business philosophy: 1) customer orientation 2) service orientation 3) profit orientation

customer relationship management (CRM)

the process of learning as much as possible about customers and doing everything you can to satisfy them, or even exceed their expectations, with goods and services

custom-managed relationships (CMR)

allows customers to have the power to build relationships with suppliers and consumers

marketing mix

product, price, place, promotion

product

any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of the consumers, such as the brand

test marketing

the process of testing products among potential users

brand name

a word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

intermediaries

the middle links in a series of organizations that distributes the goods from the producer to the consumer

promotion

all of the techniques sellers use to inform people about and motivate them to buy their products or services

marketing research process

1) defining the question and determining the present situation 2) collecting research data 3) analyzing research data 4) choosing the best solution and implementing it

secondary data

information that has already been complied by others and published in journals and books or made available online

primary data

data that you gather yourself and not from a secondary source

focus group

a small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues

environment scanning

the process of identifying the factors that can affect marketing successes

consumer market

all the individuals or households that want goods and services for personal consumption or use

business-to-business market

all the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others

market segmentation

the process of dividing the total market into groups whose members have similar characteristics

target marketing

marketing directed toward those groups (market segments) an organization decides it can serve profitably

geographic segmentation

dividing a market by cities, counties, states, or regions

demographic segmentation

dividing the market by age, income, and education level

psychographic segmentation

dividing the market using groups' values, attitudes, and interests

benefit segmentation

dividing the market by determining which benefits of the product to talk about

volume segmentation

dividing the market by usage

niche marketing

the process of finding small but profitable market segments and designing or finding products for them

one-to-one marketing

developing a unique mix of goods and services for each individual customer

mass marketing

developing products and promotions to please large groups of people

relationship marketing

marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements