1.Name the marketing legend who first coined the word Privatization in his book "The age of
discontinuity"? Peter F.Druker
2. Name the personality who coined the term 'Marketing Myopia'? Theodere Levitt.
3. "Demand Spillover”: Sale of a product or brand in one country market generates demand in
another country.
4. "Double branding”: Usage of New and old brand names and logos.
5. "Cherry Picking": Bargaining by going from store to store to get the best deal.
6. What does the abbreviation FFP stand for as in airlines jargon? Frequent Flyer Programme.
7. If you buy health drink brands you would have noticed the words RDA Balanced Formula on it.
What does it mean? Recommended Dietary Allowance.
8. BCG – “Boston Consulting Group's GrowthShare Matrix.”
9. Difference between market and marketing: A market is, therefore, the set of all actual and
potential buyers of a market offer. Marketing, on the other hand, is an organizational function and a set of processes that work in tandem to serve the market effectively, efficiently and profitably.
10. Difference between selling and marketing: Selling has a product focus and mostly producer
driven and marketing focus on the customer rather than the product.
11. 7Ps of Marketing Mix: Product, Price, Place, Promotion, People, Process and Physical evidence
12. Micro environment factors are factors close to a business that have a direct impact on its
business operations and success.
13. Macro environment factors are factors operating in an organization’s external environment, they are not specifically about the organization but affect the overall operation of the organization. The acronym PEST is an easy way to remember the factors that make up the macro environment and stands for Political, Economical, and Social and Technological environment.
14. Market segmentation is a marketing strategy that involves dividing a broad target market into
subsets of consumers who have common needs (and/or common desires) as well as common
applications for the relevant goods and service
15. A target market is a group of customers that the business has decided to aim its marketing
efforts and ultimately its merchandise towards market segment.
16. Positioning is the process by which marketers try to create an image or identity in the minds of
their target market for its product, brand, or organization.
17. Repositioning involves changing the identity of a product, relative to the identity of competing
products.
18. A brand is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image.
20. New product development (NPD): is the the complete process of bringing a new product to
market. A product is a set of benefits offered for exchange and can be tangible (that is, something
physical you can touch) or intangible (like a service, experience, or belief).
21. Advertising Vs Publicity: Advertising is paid form of ideas, goods and services while publicity
is not paid by the sponsor.
22. Product lifecycle management (or PLCM) is the succession of strategies used by business
management as a product goes through its lifecycle. The condition in which a product is sold
(advertising, saturation) changes over time and must be managed as it moves through its succession of stages.
23. Packaging is the science, art, and technology of enclosing or protecting products for
distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages.
24. Advertising is a form of communication for marketing and used to encourage or persuade an audience (viewers, readers or listeners; sometimes a specific group) to continue or take some new action.
25. Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers,or other organizational customers to stimulate
immediate sales.
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