Marketing Management at Technische Hochschule Mittelhessen | Flashcards & Summaries

Lernmaterialien für Marketing Management an der Technische Hochschule Mittelhessen

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What is the market penetration? 

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The company concentrates on markets already served and products currently being offered 

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What is the customer experience management? 

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The process of strategically managing a customer's entire experience with a product or company

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What is a undifferentiated strategy? 

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  • market is so small that marketing to a portion of it is not profitable 
  • heavy users constitute such a large proportion of sales volume that they are the only relevant target (e.g. B2B) 
  • own brand is the dominant brand in the market 
  • product fulfills the needs of a board customer base 
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What are core benefits? 

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  • basic product and services 
  • nothing where i can put myself above the competitors because they have that as well 
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What is the product development strategy? 

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focuses on developing products in the same markets the company is already in 

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what is the diversification strategy?

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new products are offered in new markets 

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What is Benchmarking? 

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comparing the different aspects of the own company with "best practice" companies 

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What is a concentrated or differentiated strategy for market segmentation? 

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  • company owns information on relevant buyer characteristics 
  • company's product appeals only to a limited group of customers 
  • marketing efforts can be effectively focused on the chosen segment 
  • segments are large, profitable and stable 
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On what do you need to focus on to analyze the company's situation? 

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  • the buyers of the market 
  • the company's own customers 
  • the competitive environment 
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What are customer personas? 

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  • they help to visualize the target group
  • made up persons for deep customer insights and right content for marketing 
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What are characteristics for a strategy? 

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  • something that will be in a company for a long time 
  • leads employees 
  • should be specific 
  • often at managers level 
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What ist Customer relationship management (CRM)?

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  • combination of practices, strategies and technologies 
  • companies use that to manage and analyze customer interactions and data throughout the customer lifecycle 
  • want to improve customer service relationships
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  • 48135 Karteikarten
  • 1453 Studierende
  • 69 Lernmaterialien

Beispielhafte Karteikarten für deinen Marketing Management Kurs an der Technische Hochschule Mittelhessen - von Kommilitonen auf StudySmarter erstellt!

Q:

What is the market penetration? 

A:

The company concentrates on markets already served and products currently being offered 

Q:

What is the customer experience management? 

A:

The process of strategically managing a customer's entire experience with a product or company

Q:

What is a undifferentiated strategy? 

A:
  • market is so small that marketing to a portion of it is not profitable 
  • heavy users constitute such a large proportion of sales volume that they are the only relevant target (e.g. B2B) 
  • own brand is the dominant brand in the market 
  • product fulfills the needs of a board customer base 
Q:

What are core benefits? 

A:
  • basic product and services 
  • nothing where i can put myself above the competitors because they have that as well 
Q:

What is the product development strategy? 

A:

focuses on developing products in the same markets the company is already in 

Mehr Karteikarten anzeigen
Q:

what is the diversification strategy?

A:

new products are offered in new markets 

Q:

What is Benchmarking? 

A:

comparing the different aspects of the own company with "best practice" companies 

Q:

What is a concentrated or differentiated strategy for market segmentation? 

A:
  • company owns information on relevant buyer characteristics 
  • company's product appeals only to a limited group of customers 
  • marketing efforts can be effectively focused on the chosen segment 
  • segments are large, profitable and stable 
Q:

On what do you need to focus on to analyze the company's situation? 

A:
  • the buyers of the market 
  • the company's own customers 
  • the competitive environment 
Q:

What are customer personas? 

A:
  • they help to visualize the target group
  • made up persons for deep customer insights and right content for marketing 
Q:

What are characteristics for a strategy? 

A:
  • something that will be in a company for a long time 
  • leads employees 
  • should be specific 
  • often at managers level 
Q:

What ist Customer relationship management (CRM)?

A:
  • combination of practices, strategies and technologies 
  • companies use that to manage and analyze customer interactions and data throughout the customer lifecycle 
  • want to improve customer service relationships
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