Term
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Definition
| Market yourself, sell yourself, know people (network), maintain contact |
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Term
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Definition
| Be: creative, aggressive, enthusiastic, smart, and honest |
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Term
| Trait 1 for "likeability" and % |
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Definition
| 38% vocal delivery and tone of voice |
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Term
| Trait 2 for "likeability" and % |
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Definition
| 55% visual delivery and facial expression |
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Term
| Trait 3 for "likeability" and % |
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Definition
| 7% verbal arrangement of the sentence |
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Term
| Credibility is determined by: (4) |
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Definition
| Trust/Sincerity, Knowledge/Expertise, Identification/Association, Charisma |
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Term
| 4 Marketing Management Philosophies |
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Definition
| Product, sales, marketing, and societal orientations |
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Term
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Definition
| MMP #1 - look inward to what you do best and focus on your product |
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Term
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Definition
| MMP #2 - put together a sales team to sell the product well |
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Term
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Definition
| MMP #3 - Understanding and satisfying the customers needs and wants |
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Term
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Definition
| MMP #4 - Marketing MMP + keeping our society and environment clean and safe |
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Term
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Definition
| Create customer value, customer satisfaction, develop and maintain relationships |
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Term
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Definition
| Benefits - costs = customer value (CoM #1) |
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Term
| Two types of dissatisfied customers |
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Definition
| Angry and remorseful (CoM #2) |
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Term
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Definition
| Harvard study - 63% of customers will change a purchase decision based on the indifference of one person (CoM #2) |
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Term
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Definition
| Employee satisfaction > customer value/satisfaction/loyalty > Profit (referrals, premium pricing, reduced advertising) (CoM #2) |
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Term
| Elements of service quality (4) |
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Definition
| Be: responsive, reliable, empathetic. Assure quality service. (CoM #3) |
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Term
| Why do customers switch? (6) |
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Definition
| Core service failure, service encounter failure, price, inconvenience, failure to respond to service failure, attraction from the competition |
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Term
| Three Levels of the Marketing Strategy Framework |
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Definition
1 - Market Analysis
2 - Strategy Development
Implementation |
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Term
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Definition
| MSF #1 - Identify to the company, customer, competition, and condition (economy, tech, politics, social factors) |
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Term
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Definition
| MSF #2 - Segmentation, Targeting and Positioning |
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Term
| Segmentation criteria (4) |
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Definition
| Strategy development - identifiable, responsive, substantial population, reachable |
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Term
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Definition
| Strategy development - undifferentiating/mass marketing; mass marketing, niche marketing |
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Term
| How to position a company? (3) |
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Definition
| Strategy development - Attributes, benefits, communication of value |
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Term
| Four P's of Implementation |
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Definition
| MSF #3 - Product, Price, Place/Distribution, Promotions |
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Term
| Components of a product (4) |
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Definition
| Packaging, warranty, service after sale, Brand (target) |
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Term
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Definition
| Component of products - Identification, repeat sales, introduce new products |
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Term
| Customer decision making process (3) |
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Definition
| Need recognition, information search, external factors |
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Term
| Information search involvement (3) |
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Definition
| Customer decision making process - Routine, limited, extensive |
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Term
| External factors in customer decision making process (3) |
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Definition
| Personal (word of mouth, buzz marketing, celebrities), commercial, public information |
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