24393107
Description
Flashcards by Tope Onanuga, updated more than 1 year ago
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Created by Tope Onanuga
over 4 years ago
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| Question | Answer |
| Define the term Marketing? | Management process identifying & satisfying customers requirements profitably |
| Why is the Marketing term challenged ? | Not everyone has profit as an objective e.g. non- for profit |
| Why is Customer satisfaction Important? | Long term survival |
| Name four customer satisfaction factors? | Previous experiences of product & services, Promotional activities (Websites & advertising) Competitors’ product and services, Views of family and friends |
| What do customers that are retained do? | Buy products often, they are most profitable & less costly to maintain (Apple customers routinely buy new products) 80 to 20 Pareto principle |
| What are the difficulties in customer acquisition? | Customers are expensive to maintain , Low prices Additional extras to tempt |
| How can you interact with customer acquisition? | Most profitable way to interact is to build relationships/ relationship marketing |
| With Marketing relationships with other functions it is | Important to understanding the customer success, |
| Business that have limited functions are | Unaware of issues e.g. maintain customer, marketing relationships will be determined by other functions |
| Marketing Relationships with other functions can also be seen as a | Moderating force in the exchange process, managerial function, catalyst for change, dynamic operation |
| What does a Customer orientated firm do in Marketing? | Helps to co-ordinate activities to maximise customer satisfaction |
| Features of Internal external marketing are Why is it important to communicate | Customer facing wider trends, Important to communicate this to internal groups to develop marketing orientation |
| What does Internal Marketing do? | Staff (mainly) & stakeholders engages with employees keeping them informed have a common view of the org purpose & mission |
| Can the needs and wants of external customers be categorised? | Yes Different groups of external customers will have different needs/ categories customers in terms of income and locations |
| What has the increase of data allowed? | Allowed sophisticated segmentation? |
| Internal function example is and they manage? | Accounting function, manage costs effectively |
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