MARKETING AN INTRODUCTION COMPLETE
STUDY GUIDE WITH SOLVED QUESTIONS
◉ Partner relationship management
Answer: Working closely with partners in other company
departments and outside the company to jointly bring greater value
to customers
◉ Customer lifetime value
Answer: The value of the entire stream of purchases a customer
makes over a lifetime of patronage
◉ Share of customer
Answer: The portion of the customer's purchasing that a company
gets in its product categories
◉ Customer equity
Answer: The total combined customer lifetime values of all of the
company's customers
◉ Digital and social media marketing
,Answer: Using digital marketing tools such as Web sites, social
media, mobile apps and ads, online video, email, and blogs that
engage consumers anywhere, anytime via their digital devices
◉ Strategic planning
Answer: the process of developing and maintaining a strategic fit
between the organization's goals and capabilities and its changing
marketing opportunities
◉ Mission statement
Answer: A statement of the organization's purpose-- what it wants
to accomplish in the larger environment
◉ Business portfolio
Answer: The collection of businesses and products that make up the
company
◉ Portfolio analysis
Answer: the process by which management evaluates the products
and businesses that make up the company
◉ Growth-share matrix
Answer: A portfolio-planning method that evaluates a company's
SBUs in terms of m market growth rate and relative market share
,◉ Product/market expansion grid
Answer: a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development,
product development, or diversification
◉ Market penetration
Answer: Company growth by increasing sales of current products to
current market segments without changing the product
◉ Market development
Answer: Company growth by identifying and developing new market
segments for current company products
◉ Product development
Answer: company growth by offering modified or new products to
current market segments
◉ Diversification
Answer: Company growth through starting up or acquiring
businesses outside the company's current products and markets
◉ Value chain
, Answer: the series of internal departments that carry out value
creating activities to design, produce, market, deliver, and support a
firm's products
◉ Value delivery network
Answer: the network made up of the company, its suppliers, its
distributors, and, ultimately, its customers who partner with each
other to improve the performance of the entire system
◉ Marketing strategy
Answer: The marketing logic by which the company hopes to create
customer value and achieve profitable customer relationships
◉ Market segmentation
Answer: Dividing a market into smaller segments of buyers with
distinct needs, characteristics, or behaviors that might require
separate marketing strategies or mixes
◉ Market segment
Answer: A group of consumers who respond in a similar way to a
given set of marketing efforts
◉ Market targeting
STUDY GUIDE WITH SOLVED QUESTIONS
◉ Partner relationship management
Answer: Working closely with partners in other company
departments and outside the company to jointly bring greater value
to customers
◉ Customer lifetime value
Answer: The value of the entire stream of purchases a customer
makes over a lifetime of patronage
◉ Share of customer
Answer: The portion of the customer's purchasing that a company
gets in its product categories
◉ Customer equity
Answer: The total combined customer lifetime values of all of the
company's customers
◉ Digital and social media marketing
,Answer: Using digital marketing tools such as Web sites, social
media, mobile apps and ads, online video, email, and blogs that
engage consumers anywhere, anytime via their digital devices
◉ Strategic planning
Answer: the process of developing and maintaining a strategic fit
between the organization's goals and capabilities and its changing
marketing opportunities
◉ Mission statement
Answer: A statement of the organization's purpose-- what it wants
to accomplish in the larger environment
◉ Business portfolio
Answer: The collection of businesses and products that make up the
company
◉ Portfolio analysis
Answer: the process by which management evaluates the products
and businesses that make up the company
◉ Growth-share matrix
Answer: A portfolio-planning method that evaluates a company's
SBUs in terms of m market growth rate and relative market share
,◉ Product/market expansion grid
Answer: a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development,
product development, or diversification
◉ Market penetration
Answer: Company growth by increasing sales of current products to
current market segments without changing the product
◉ Market development
Answer: Company growth by identifying and developing new market
segments for current company products
◉ Product development
Answer: company growth by offering modified or new products to
current market segments
◉ Diversification
Answer: Company growth through starting up or acquiring
businesses outside the company's current products and markets
◉ Value chain
, Answer: the series of internal departments that carry out value
creating activities to design, produce, market, deliver, and support a
firm's products
◉ Value delivery network
Answer: the network made up of the company, its suppliers, its
distributors, and, ultimately, its customers who partner with each
other to improve the performance of the entire system
◉ Marketing strategy
Answer: The marketing logic by which the company hopes to create
customer value and achieve profitable customer relationships
◉ Market segmentation
Answer: Dividing a market into smaller segments of buyers with
distinct needs, characteristics, or behaviors that might require
separate marketing strategies or mixes
◉ Market segment
Answer: A group of consumers who respond in a similar way to a
given set of marketing efforts
◉ Market targeting
