marketing & advertiisng Flashcards
week 2
”DOING BUSINESS WITHOUT ADVERTISING IS LIKE WINKING AT A GIRL IN THE DARK. YOU KNOW WHAT YOU’RE DOING BUT NOBODY ELSE DOES.
by _________________
Stuart H. Britt
are often taken together and used interchangeably. But marketing and advertising are not the same thing, and if you want to be successful with either, you need to understand why and how they’re different—and how to use each effectively.
marketing and advertising
is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objective (Kotler & Keller, 2005).
marketing
is a management process which is responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing).
marketing
is essentially about providing changing benefits to the changing needs and demands of the customer (P. Tailor).
marketing
STRATEGIC APPROACH OF MARKETING
Give The3C’sof Marketing
Company
competitor
customer
The one responsible to earn profit for the business.
company
The company must always be aware that there are _____________ in the market. The competition can either be direct or indirect.
competitor
- The ______________ should be the center of all the marketing efforts of the company. The company’s responsibility is to satisfy the needs and wants of the market, which is the customer.
customer
TWO MAJOR FACTORS IN MARKETING
- The recruitment of new customers.
- The retention and expansion of relationships with existing customers.
3 ADDITIONAL THREE P’S
people
physical evidence
process
These are the employees, customers or those who are directly or indirectly involved in consuming or producing the goods or services.
people
This can be the facility design, equipment or signage. For example, when walking in a hotel, a customer expects to find the premises clean, the place cozy and staff friendly
physical evidence
This is the flow of activities or steps and level of customer’s involvement. For example, a customer can walk in a fast-food shop and order a hamburger and get it serve within two
.
process
is the paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.
advertising
give four P”s product
product
pricing
promotion
placement or distribution