Summary: Principles Of Marketing European Edition | 9781292092898 | Lloyd Harris, et al
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Read the summary and the most important questions on Principles of Marketing European Edition | 9781292092898 | Lloyd Harris; Nigel F. Piercy; Philip Kotler; Gary Armstrong
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1 Marketing : creating customer value & engagement
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What is the Value Proposition?
The set of benefits and values a company promises to deliver to consumers to satisfy their needs. -
What are the 4 P´s in Marketing?
Product - create a satisyfing offer
Place - how to make it available
Price - how much to charge
Promotion - persuade customers on benefits -
What is Digital & Social Media Marketing ?
Using digital marketing tools such as websites, social media, mobile apps and ads, online videos, emails and blogs that engage consumers anywhere, at any time, via their digital devices. -
2 Company & Marketing Strategy : partnering to build customer engagement, value & relationships
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What is the Product/ Market Expansion grid ?
A portfolio planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification. -
What is Market Targeting?
The process of evaluating each market segments attractiveness and selecting one or more segments to enter. -
What is a Swot Analysis?
An overall evaluation of the company´s Strenghts, Weaknesses, Opportunties and Threats. -
What is Marketing Implementation?
Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives. -
What is Marketing Return On Investment (ROI) and why is it important?
Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.
It is important to make sure marketers think carefully where and how they are spending and if the marketing ROI is enough for such investments. -
8 Products, Services & Brands : building customer value
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What is Line Filling ? (product line)
Adding more items to the current range of the line to increase profits, satisfy dealers, use excess capacity and plug holes to keep competitors out. -
9 New product development and product life-cycle strategies
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What are the 2 major challanges of a PLC?
1. The challenge of new product development
2. Good at the adaption of marketing strategies, product life-cycle strategies
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