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BASICS OF MARKETING: –

BASICS OF MARKETING: –

1. Marketing must deliver goods and services in exchange of money.
2. Mass Marketing means marketing the mass produced goods.
3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company.
4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people.
5. Synchrome marketing means irregular demand.
6. Demarketing means the demand for the product exceeds the supply.
6. Remarketing means a stopping further decline in demand of the product.
7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc
8. Consumer goods are required in large number and directly used by the consumer.
9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TV’s and refrigerator.
10. The client of an advertising agency is called customer.
11. CRM means Customer Relationship Management.
12. Segmentation of consumer market is based on consumer characteristics and consumer responses.
13. B2B means – business to business
14. Database marketing is direct form of marketing.
14A. Effective marketing helps in boosting the sales.
15. A Buyers Market means supply exceeds demands
16. Niche market means a specified market for the target group.
17. HNI marketing means High Networth Individual.
18. Relationship marketing is useful for cross selling of products.
19. Good public relations indicate
Improved marketing skills
Improved brand image
Improved customer service
20. Marketing functions includes
Designing new products
Advertisements
Publicity
After sales service
21. Effective selling skills depends on
Effective lead generation
Sales call planning
Territory allocation
Effective communication skills
22. Marketing channels mean
Delivery period
Delivery outlets
Delivery time
Delivery place
23. Marketing information means
Knowledge level of marketing staffs
Information about marketing staff
Information regarding share market
Knowledge of related markets
24. A DSA means Direct Selling Agent.
25. Service marketing resorted to in Insurance companies and banks.
26. Service marketing is same as
Internet marketing
Telemarketing
Internal marketing
Relationship marketing
27. Market segmentation helps to determine target groups.
28. The four P’s of marketing
Product
Price
Place
Promoting
29. SWOT – Strengths Weakness Opportunities Threats.
30. Standard marketing practices include lowering the selling price.
31. USP of a product means Unique Selling Proposition.
“Rosser Reeves” coined the term USP.
32. MBO means Management by Objectives (“Peter Drucker”)
33. AIDA – Attention Interest Desire Action
34. B2C – Business to Consumer
35. BTL – Below the line
36. A group of related products manufactured by a single company is called product line.
37.MDSS – Marketing Decision Support System.
38. Target group for the marketing of Internet Banking – All the computer educated customers.
39. Innovation means new ideas and product designing.
40. Service after sale is not the function of marketing staff.
41. A good seller should have the following quality/qualities
Devotion to the work
Sympathy
Submissive
42. Planned cost service means – additional profit on same cost.
43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.
44. The aim of successful marketing is to increase the outlet of the seller.
45. Low end market means a market for lower price products.
46. The strategy used to charge different prices for the same product is called price discrimination.
47. The system designed to support marketing decision making is – marketing information system.
48. Conversion in marketing means converting suspect into prospect.
49. MC means – Marginal Cost.
50. Digital Banking means Internet Banking and tele-banking.