Marketing Mangament

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Samenvatting - Marketing Mangament

  • 1 Defining Marketing for the New Realities

  • Marketing is meeting people's wants and needs
  • Marketing management is art and science of choosing target markets and getting keeping and growing customers through creating delivering and communicating customer value
  • Name 10 types of marketers market entities
    1. Goods
    2. Services
    3. Events
    4. Experiences
    5. Persons
    6. Places
    7. properties (house or stock parts)
    8. Organization
    9. Information (e.g. schools, books, universities)
    10. Idea's (e.g. don't drink and drive)
  • Markets are various groupings of customers
    Key customer markets: consumer, business, global and non-profit
  • Marketplace is physical: store
    Marketspace is digital: internet
    Metamarket is a cluster of different industries which are closely related in the mind of consumers
  • Needs are basic human requirements, they become wants when they are directed to specific objects, mostly shaped by the environment where the consumer live
  • Demands are wants for a specific product backed by ability to pay. Marketers and social factors influence peoples wants.
  • Name 5 types of needs
    1. Stated needs 
    2. Real needs
    3. Unstated needs
    4. Delight needs
    5. Secret needs
  • Name 8 types of demand states
    1. Negative demand
    2. Nonexistent demand
    3. Latent demand
    4. Declining demand
    5. Irregular demand
    6. Full demand
    7. Overfull demand
    8. Unwholesome demand
  • Market is a collection of buyers and sellers who transact over a particular product or product class.
  • Not everyone likes the same --> market segments based on demographic, psychographic and behavioral differences
  • Market segments: target markets chosen by marketers, here are the best opportunities, each target market gets a market offering which positions in the mind of consumer as delivering some benefits.
  • Value proposition: a set of benefits that will satisfy the needs of the customer, set forth by an offering which is a combi of the product, services, info and experiences.
  • Value: combination of quality, service and price (qsp) customer value triad
  • Marketing channels: used to reach target markets:
    1. Communication channels: deliver and receive messages with target buyers
    2. Distribution channels: display, sell or deliver product
    3. Service channels: carry out transactions with buyers
  • Environments
    Task: actors engaged in producing, distributing and promoting
    Broad: 6 components: demographic, economic, social-cultural, natural, technological, political-legal. Marketers have to adjust to changes in these environments.
  • Marketing is difficult and fluid due to rapid changes in markets
  • Name the earlier market concepts
    1. Production concept
    2. Product concept
    3. Selling concept
    4. Marketing concept
    5. Holistic concept    
  • Paid media are media all of which allow marketers to show their ad or brand for a fee. Owned media are communication channels marketers actually own.
  • New consumer capabilties
    Can use the internet as a powerful information and purchasing aid
    Can search, communicate and purchase on the move
    Can tap into social media to share opinions and express loyalty
    Can actively interact with companies
    Can reject marketing they find inappropriate
  • New company capabilities
    Can use the internet as a powerful information and sales channel, including for individually differentiated goods
    Can collect further and richer information about markets, customers, prospects and competitors
    Can reach customers quickly and efficiently via social media and mobile marketing, sending targeted ads, coupons and information
    Can improve purchasing, recruiting, training and internal and external communications
    Can improve cost efficiency
  • Changing channels
    Retail transformations (catalog houses)
    Disintermediations  (early dot-coms)
  • Holistic marketing consists of broad four broad components
    1. Internal marketing
    2. Integrated marketing
    3. Performance marketing
    4. Relationship marketing
  • Marketing mix: 4 p's --> Price, product, place, promotion
  • Holistic marketing mix addition
    1. People
    2. Processes
    3. Programms
    4. Performance
  • Specific set of tasks that make up a succesful marketing management
    • Developing marketing strategies and plans, develop concrete marketing plans that specify marketing strategy
    • Capturing market insights: monitor your market well
    • Connect with customers
    • Building strong brands: also pay attention to competitors
    • Shaping market offerings: the heart is the products
    • Delivering value
    • Communicating value: communicate with the target market about the value
    • Creating succesfull long-term growth
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Voorbeelden van vragen in deze samenvatting

Name 10 types of marketers market entities
Name 5 types of needs
Name 8 types of demand states
Marketing channels: used to reach target markets:
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