Marketing at Hochschule Macromedia | Flashcards & Summaries

Lernmaterialien für Marketing an der Hochschule Macromedia

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What is marketing?

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It is a set of processes responsible for creating ,communicating, delivering and exchanging offerings that have value for customers, partners and society at large. 

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Why marketing is not only selling?

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Its not only selling, Its also about understanding the customer and customer segment, getting to them by using the right words and techniques. Its about understanding their needs which leads to ROI.

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What does CVP (Customer value proposition) assume?

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-Offer the right product

-To your target customers

-At a price that is acceptable to them

-Based on their perception of value

-At a cost that gives you a profit

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Why market and customer has changed?

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Market: Globalization, New technology, Industry convergence, Retail transformation , Disintermediation.


Customer: Self -service, Tech savvy, Buying power, voice§influence, co-creation

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What are characteristics of Transaction marketing?

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-One off exchange

-Brand management

-short term focus

-Mass communications

-Market share

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What are characteristics of relationship marketing?

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-Ongoing exchanges

-Customer management

-Long term focus

-Personal communications

-Mind share (share of customer satisfaction).

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There are 5 alternative concepts under which organizations design and carry out their marketing strategies. Name them.

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1.Production concept.(improving production and distribution)

2.Product concept(consumers praise quality, performance and features)

3.Selling concept (people will most likely buy it when company undertakes large scale selling and promotion effort)

4. Marketing concept(know the needs and wants of target markets and deliver  what's anticipated)

5.Social marketing concept(consumers wants, companies requirements, society's long run interests)

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What does marketing management assumes?

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-situation analysis

-Prognosis

-Defines marketing goals

-chooses adequate marketing mix

-controlls marketing procedures to capture the effect of success(feedback)

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What is a market?

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Market is a place where one party with a  particular need or desire supported by buying power comes to an exchange process with a second party which can supply it.

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Which 10 main types of entities marketers promote?

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1. Goods (Physical, tangible products)

2. Services (airlines, hotels, car rental firms)

3.Events (time based events like: trade shows, artistic performances, companies anniversaries, Global sporting events like: Olympics, World Cup, and Local events like: bookstore reading, farmers markets)

4.Experiences ( A week at baseball camp with retired baseball players or a fitness camp with a popular influencer)

5.Persons (artists, musicians , CEOs, physicians, lawyers and financiers, )

6.Places (Cities, states ,regions to attract tourists)

7.Properties (They are bought and sold and these exchanges require marketing)

8.Organisations( Museums, performing arts, nonprofits, to boost their public images)

9. Information

10. Ideas


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Which 8 states of demand do you know?

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1. Negative demand (consumers dislike the product and may pay to avoid it)

2.Nonexistent demand (unaware or uninterested in the product)

3. Latent demand( consumers may have a strong need that cannot be satisfied by an existing product)

4.Declining demand(Begin to buy product less frequently or not at all)

5.Irregular demand (seasonal ,monthly , weekly purchases)
6.Full demand( consumers buy all products put into the market)

7.Overfull demand(more consumers would like to buy the product that can be satisfied)

8.Unwholesome demand (consumers attracted to products that have undesirable social consequences)

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What is the goal of todays marketing?

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to create value for customers and building strong customer relationships in order to capture value from customers in return.

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Q:

What is marketing?

A:

It is a set of processes responsible for creating ,communicating, delivering and exchanging offerings that have value for customers, partners and society at large. 

Q:

Why marketing is not only selling?

A:

Its not only selling, Its also about understanding the customer and customer segment, getting to them by using the right words and techniques. Its about understanding their needs which leads to ROI.

Q:

What does CVP (Customer value proposition) assume?

A:

-Offer the right product

-To your target customers

-At a price that is acceptable to them

-Based on their perception of value

-At a cost that gives you a profit

Q:

Why market and customer has changed?

A:

Market: Globalization, New technology, Industry convergence, Retail transformation , Disintermediation.


Customer: Self -service, Tech savvy, Buying power, voice§influence, co-creation

Q:

What are characteristics of Transaction marketing?

A:

-One off exchange

-Brand management

-short term focus

-Mass communications

-Market share

Mehr Karteikarten anzeigen
Q:

What are characteristics of relationship marketing?

A:

-Ongoing exchanges

-Customer management

-Long term focus

-Personal communications

-Mind share (share of customer satisfaction).

Q:

There are 5 alternative concepts under which organizations design and carry out their marketing strategies. Name them.

A:

1.Production concept.(improving production and distribution)

2.Product concept(consumers praise quality, performance and features)

3.Selling concept (people will most likely buy it when company undertakes large scale selling and promotion effort)

4. Marketing concept(know the needs and wants of target markets and deliver  what's anticipated)

5.Social marketing concept(consumers wants, companies requirements, society's long run interests)

Q:

What does marketing management assumes?

A:

-situation analysis

-Prognosis

-Defines marketing goals

-chooses adequate marketing mix

-controlls marketing procedures to capture the effect of success(feedback)

Q:

What is a market?

A:

Market is a place where one party with a  particular need or desire supported by buying power comes to an exchange process with a second party which can supply it.

Q:

Which 10 main types of entities marketers promote?

A:

1. Goods (Physical, tangible products)

2. Services (airlines, hotels, car rental firms)

3.Events (time based events like: trade shows, artistic performances, companies anniversaries, Global sporting events like: Olympics, World Cup, and Local events like: bookstore reading, farmers markets)

4.Experiences ( A week at baseball camp with retired baseball players or a fitness camp with a popular influencer)

5.Persons (artists, musicians , CEOs, physicians, lawyers and financiers, )

6.Places (Cities, states ,regions to attract tourists)

7.Properties (They are bought and sold and these exchanges require marketing)

8.Organisations( Museums, performing arts, nonprofits, to boost their public images)

9. Information

10. Ideas


Q:

Which 8 states of demand do you know?

A:

1. Negative demand (consumers dislike the product and may pay to avoid it)

2.Nonexistent demand (unaware or uninterested in the product)

3. Latent demand( consumers may have a strong need that cannot be satisfied by an existing product)

4.Declining demand(Begin to buy product less frequently or not at all)

5.Irregular demand (seasonal ,monthly , weekly purchases)
6.Full demand( consumers buy all products put into the market)

7.Overfull demand(more consumers would like to buy the product that can be satisfied)

8.Unwholesome demand (consumers attracted to products that have undesirable social consequences)

Q:

What is the goal of todays marketing?

A:

to create value for customers and building strong customer relationships in order to capture value from customers in return.

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