consumers individuals & households who buy goods and services for personal consumption. Prof. P.V. Balakrishnan All these consumers make up the consumer market. The central question for marketers is: “How do consumers respond to various marketing efforts the company might use?” 1 CB-2 Value of Customers 1. Lifetime Customer Value Transaction basis a) b) 1. Views each individual interaction as unique Calculate value of transaction Focuses firms’ efforts on retaining
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ASSESSMENT COVER SHEET Unit Number and TitleAssessment TitleCourse TitleAssessment Code | Unit1 Business EnvironmentUnderstanding the Business EnvironmentHND Business HNDBUSCoreUnit1/Jan2013/ | Hand Out Date | 1st March 2013 | Hand In Date | 11th May 2013 | Lecturer(s) | GidraphMichikuAnujaPrasharVijay ShahDaniel RukareDhanChooramunJane EvansAdrian GauciMohit PunMichael Evans SohailChoudhurySalman Khalid | Internal Verifier | Jonathan Cartmell | Sources of information | 1. Course notes
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Marketing as selling has two main concepts‚ which are making profit much as possible and satisfying customer’s need. Before making any profit. A well-managed company is able to identify and specify itself. That includes making targets for its ideal customer. Analysis and strategies help the company in achieving a higher possibility for success in the business. Segmentation methods Segmentation involves diving a broad target market into subset of consumers who have common needs and priorities. A
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Economic Principle | Marketing Principle | Form Utility | | | | | | | | | | Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good. Utility may measure how much one enjoys a movie‚ or the sense of security one gets from buying a deadbolt. The utility of any object or circumstance can be considered. Some examples include the utility from eating an apple‚ from living in a certain house‚ from voting for a specific candidate
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the marketing system. Explain why marketers are embracing the concept of shopper marketing. (AACSB: Communication; Reflective Thinking) 2. Discuss the factors used to classify retail establishments and list the types within each classification. (AASCB: Communication) 3. List and briefly discuss the trends impacting the future of retailing. (AACSB: Communication) 4. Suppose you are a manufacturer’s agent for three lines of complementary women’s apparel. Discuss the types of marketing mix
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Reflective report of Marketing Reflective writing is an intricate process of inscription‚ what one learned from particular area and how it is useful in future. In my reflection I will try to construct an assertive image of what exactly happened during my marketing module‚ like what went correct and what went incorrect and how it could be useful. Right from my first year of bachelor of business administration I started learning about marketing. Initially my thoughts were that marketing is only
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Recently‚ a friend showed me the results of a survey of employees around the world. When it comes to what motivate staff to give their best at work‚ the following Top 10 motivating factors were identified: Appreciation or recognition for a job well done Being in the know about company matters An understanding attitude from the management Job security Good wages Interesting work Career advancement opportunities Loyalty from management Good working conditions
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Course Principles of Marketing Test Week 2 Quiz 1 Started 1/18/14 2:32 PM Submitted 1/18/14 3:19 PM Status Completed Attempt Score 21 out of 30 points Time Elapsed 47 minutes out of 1 hour. Instructions This quiz consist of 10 multiple choice questions and covers the material in Chapter 1. Be sure you are in Chapter 1 when you take the quiz. Question 1 3 out of 3 points Correct Customer relationship management (CRM) begins its focus on customers with Answer Selected Answer:
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MARKETING PRINCIPLES 1.1 Illustrate various element of marketing process. Marketing is process of interesting potential customers and clients in product or service. Marketing process consist of four steps‚ completed whit the goal of creating value for the target customers. Some of the element are development of communication marketing plan‚ monitoring the marketing environment‚ segmentation‚ targeting and positioning. Ref(http://sbinfocanada.about.com/od/marketing/g/marketing.htm) Ref(http://wiki
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Unit 3 - Introduction to Marketing P1 – Describe the concept and principles of marketing. In this task I have been asked to write about what is marketing principles and concepts‚ and also go though what are the 6 elements of Marketing Mix. The list of marketing principle and concept that I will be talk about are; * Overall concept * Marketing definitions * Marketing principles * Marketing activities * Marketing objectives (SMART) * Marketing functions * Links between organisational
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