Ba Marketing Plan

Marketing

Chapter 1

1. What is Brand Equity?

The value that customers place on a company or brand, its value in their eyes. The higher the sense of loyalty, the greater the level of brand equity.

2. What is Customer relationship?

A close association between a company or brand and its customers, characterized by strong feelings of loyalty, trust, and commitment, the ultimate connection, based not only on quality of products and service, but also on how the company makes its customers feel.

3. 5 Stages of evolution of Market thinking?

I. Product-focus Stage

At which a company is focused mainly on producing high-quality products and services.

II. Sales-orientation stage

In the evolution of marketing in which the emphasis is on selling whatever the organization produces

III. Customer-interest stage

A company realizes that satisfying its customers is critical to its success, generally involves trying to know customers better.

IV. Customer-service stage

A company at this stage places emphasis on providing excellent service to its customers, usually through improved systems and employee-customer interaction.

V. Customer-relationship stage

A company actively tries to cultivate long-term relationships with its customers, based not only on great products, price, and service, but also on establishing an emotional connection.

4. What is viral marketing?

The planned promotion of a product or service by a company taking advantage of the attention and credibility that often accompanies word of mouth communication.

Chapter 2

1. 6 Steps in Buying decision Process?

I. Need recognition

Considering action as a result of an internally or externally generated need

II. Choice of an involvement level

Deciding how much time and effort to invest in satisfying the need and the energy to be devoted to the remaining stages of the problem –solving process.

III. Identification of alternatives...