Marketing Essentials
A marketing plan is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It is one of the most important outputs of the marketing process.
4 Market Entry Strategy: Rapid Skimming, Slow Skimming, Rapid Penetration, Slow Penetration Strategy
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.
Models of Communication: AIDA, Levidge and Steiner, Hierarchy of Effects, Innovation-adoption, Information Processing Model
Advertising is a paid form of communication in which the sponsor or the brand owner has made payments to the media to carry the message through their set of media vehicles.
Personal selling is a promotional method in which one party (e.g. salesperson) uses skills and techniques for building personal relationships with another party is personal selling, here both parties obtain value.
3 Types of Sales Promotion: Sales Promotions Directed at Consumers, Trade Partners, Sales Force
Sales promotion is a marketing discipline that utilizes a variety of incentives techniques to structure sales related programs targeted to consumers/trade/ and or sales level, that generate a specific measurable action or response for a product/ service.
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
The Boston Consulting Group (BCG) Matrix is a simple corporate planning tool, to assess a company’s position in terms of its product range. The Boston Consulting Group (BCG) Matrix is a portfolio management tool created in 1970 by Bruce Henderson. It is also referred to as the BCG growth-share matrix.
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