Marketing

MKTG 3104 EXAM 1

Two of the most critical areas within a marketing strategy are control and ROI.

Answer: False

* Marketing is about ideation, planning, execution, but mostly data

* Habits matter

* USP> unique selling proposition

Opening song in class: enter sandman metallica

* Ignore no more app, video with it on abc news

* Amazon

* Highly customer driven

* Unique personal customer experience

* Similar to zappos, made employees happy in order to make the customer happy

* marketing

* Create value for customers and building strong customer relationships in order to capture value from them

* Goals

* Attract new customers by promising superior value

* Keep and grow current customers by delivering satisifaction and inspire them

* Forms of marketing

* Traditional

* Views- making a sale

* Abundance of products in the nearby shopping centers

* Television, magazine and direct mail ads

* Contemporary

* View- satisfying customer needs

* Imaginative web sites and mobile phone apps, blogs, online videos, and social media

* Reach customer directly personally and interactively

* Marketing process: creating and capturing customer value (process from left to right)

*

Understanding needs and wants | Desing a customer driven marketing strategy | Construct an integrated marketing program that delivers superior value | Build proitable relationships and create customer delight | Capture value from customers to create profits and customer equity |

* Understanding: Customer needs wants demands (Maslows Hierarchy)

* Needs

* States of felt deprivation

* Physical needs- food clothing warmth and safety

* Social needs

* Wants

* Demands

* Market offerinfs

* Combination of products services information or experiences

* Offered to...