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Marketing Final

  1. What is the Marketing Strategy Framework?
    • Customer
    • Competition
    • Company
  2. 4 Parts of Promotional Mix
    • PR
    • Advertising
    • Sales Promotions
    • Personal Selling
  3. 3 Types of Pricing
    • Prestige/Price Skimming: Set price high to create illusion of quality
    • Penetration Pricing: Low price
    • Status Quo: Set price to match competition
  4. 3 Parts of Sales Force Management
    • Hiring
    • Motivation
    • Techniques
  5. 7 Steps/techniques to Selling
    • Generate Leads
    • Qualify Leads: Find decision maker
    • Sales Approach: Break the ice
    • Sales Presentation
    • Handle Objections
    • Close the Sale
    • Follow up
  6. Braden's Theory of Persuasion
    • Spans from Lost (-4) to Loyal (+4)
    • Determine location of decision makers on line
    • Goal is to get the customer on the positive end
    • Don't offend people already on the positive end
  7. Marketing Mix
    • Product
    • Price
    • Place
    • Promotion
    • People
  8. S.T.P.
    • Segmentation
    • Target Market
    • Positioning
  9. Referrals
    • When company pays current customers for finding new customers
    • 60% ROI
    • 18% Longer Customer Retention
    • 16-25% Higher Customer Value
    • Increasing in popularity
  10. Failure/Recovery
    • Service encounter failure and a failure to respond to the initial failure
    • Likability is key to recovery
    • Shell: Immediately took responsibility - "We have a social responsibility. We have an environmental responsibility." Wasn't Shell's Fault
    • BP: Let media speculate, didn't take charge. Tried to pass blame.
Author
maxkelly
ID
53325
Card Set
Marketing Final
Description
Marketing Final
Updated

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