Marketing Management

Question 1

What is marketing management?

Answer 1

The analysis, planning, implementation and control of programs designed to create build and maintain mutually beneficial exchanges and relationships with target markets

Question 2

What are some factors that influenece a bank’s brand?

direct and indirect interactions with the orgnization

Answer 2

• brand name
• logo
• products
• visual identity
• staff
• advertising

Question 3

What is the difference between a logo, a brand and branding?

Answer 3

• A logo is an easily recognizable graphic symbol that identifies a company, a commercial product, or any public or private entity. It is one of the ways to distinguish a brand
• A brand is the idea or image people have in mind when thinking about specific products, services, and activities of a company, both in a practical and emotional way.
• Branding is a strategy designed by companies to help people to quickly identify their products and organization, and give them a reason to choose their products over the competition.

Question 4

List the ways banks use communication to generate sales and profits

marketing mix

Answer 4

• advertising
• sales promotion
• public relations
• direct marketing

Question 5

What steps are involved in creating a promotional campaign?

sixsteps

Answer 5

1. Set objectives
2. Select the media
3. Create the advertising
4. Develop the sales promotion materials
5. Market to staff
6. Measure results

Question 6

What four factors should a marketing manager consider when determining marketing mix?

Answer 6

1. communication goal
2. type of product or service
3. nature of market
4. product’s lifecycle

Question 7

What are the six steps in the communication process?

Answer 7

1. the source wishes to send a message
2. the source encodes the message for delivery
3. the message is transmitted
4. The rmessage is decoded
5. The receiver interprets the message
6. The receiver provides feedback or a response to the message

Question 8

What are the four general advertising goals of financial institutions?

Answer 8

1. Simulate increased awareness and use of profitable products and services
2. Achieve a diversified financial base by attracting a steady influx of new customers
3. Promote special events
4. Promote a favorable public reaction to the bank

Question 9

What are sales promotions?

Answer 9

Communications that do not fit into the categories of advertising, public relations or personal selling

POP merchandising, incentives, seminars, contests, premiums, gifts w/ pu