Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering
value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Product, Price, Place, Promotion (Marketing Mix)
Exchange is the trade of things of value between the buyer and the seller so that each is better off as a result.
Goods are items that you can physically touch.
Services are intangible customer benefits that are produced by people or machines and cannot be separated from the
Ideas include thoughts, opinions, and philosophies, and intellectual concepts which can be marketed.
A supply chain is the group of firms that make and deliver a given set of goods and services.
Value reflects the relationship of benefits to costs.
Customer excellence is achieved when a firm develops valuebased strategies for retaining loyal customers and
provides outstanding customer service.
Locational excellence occurs by having a good physical location and Internet presence.
A diversification strategy introduces a new product or service to a market segment that currently is not served.
A market development strategy employs the existing marketing offering to reach new market segments, whether
domestic or international.
A product development strategy offers a new product or service to a firm’s current target market.
A market penetration strategy employs the existing marketing mix and focuses the firm’s efforts on existing
A marketing plan is a written document composed of an analysis of the current marketing situation, opportunities and
threats for the firm, marketing objectives and strategy specified in terms of the four P’s, action programs, and projected
or proforma income (and other financial) statements.
A mission statement is a broad description of a firm’s objectives and the scope of activities it plans to undertake.
Operational excellence is achieved through efficient operations and excellent supply chain and human resource
Product excellence occurs by having products with high perceived value and effective branding and positioning.
A situation analysis uses a SWOT analysis that assesses both the internal environment with regard to its Strengths and
Weaknesses and the external environment in terms of its Opportunities and Threats.
STP stands for segmentation, targeting, and positioning, and is used to identify and evaluate opportunities for
increasing sales and profits.
A sustainable competitive advantage is an advantage over the competition that is not easily copied, and thus can be
maintained over a long period of time.
Social Media needs to Excite, Educate, Experience and Engage the customers.
Bonders are social butterflies who use social media to enhance and expand their relationships, which they consider all
important in their lives.
Creators, those hip, cool contributors, sit at the cutting edge and plan to stay there. Social media give them new ways
to post and share their creative, clever ideas. Professionals , who are constantly on the go and busy, want to appear efficient, with everything together, so they use
social media to demonstrate just how smart they are.
Sharers really want to help others, and the best way to do so is by being constantly well informed so that they can
provide genuine insights to others.
Social media refers to content distributed through social interactions.
Sentiment analysis allows marketers to analyze data from these sources to collect consumer comments about
companies and their products.
Hits – total requests for a page.
Page views – the number of times any pages gets viewed by any visitor.
Bounce rate – the percentage of times a visitor leaves the site almost immediately.
Click paths – how users proceed through the information.
Conversion rates – what percentage of visitors act as the marketer hopes
Keyword analysis – what keywords people use to se