https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp Made with eyes on the prize en-us 2020-11-17 05:40:08 UTC 2020-11-17 06:50:10 UTC hello@padlet.com https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930308840 It is defined as the management process for identifying, anticipating and satisfying customers requirements

]]> 2020-11-17 05:49:26 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930308840 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930309465 are the states of felt deprivation and basic requirements for humans to survive (physical, individual and social needs)]]> 2020-11-17 05:49:45 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930309465 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930312735 Wants are needs shaped by one's culture and personal preferences. ]]> 2020-11-17 05:51:32 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930312735 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930342586 - when a want is backed by consumer buying power, it becomes a demand]]> 2020-11-17 06:06:30 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930342586 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930348346 2020-11-17 06:09:05 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930348346 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930350791 A market consists of a set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through an exchange relationships with seller 

Target Market is where one or more specific groups of potential customers on which a company focuses all its marketing efforts]]> 2020-11-17 06:10:07 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930350791 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930356080 The process begins with a detailed market analysis, usually through market research, like customer surveys as well as competitor and environmental analysis. It enables companies to understand their customers and the marketing environment, to uncover growth opportunities.]]> 2020-11-17 06:12:26 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930356080 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930356323 It will develop a customer-driven marketing strategy to find, attract, keep and grow target customers by creating, delivering, and communicating superior customer value]]> 2020-11-17 06:12:32 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930356323 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930357864 Once the marketing strategy has been developed, company will develop an optimal marketing mix that will support the positioning in the marketplace. It requires suitable products to be designed and developed, at a suitable place, with suitable distribution channels, and an effective promotional programme


]]> 2020-11-17 06:13:15 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930357864 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930359610 Lastly, the marketing plan will be implemented and controlled for the effectiveness. After a period of time, and on a regular basis, the company need s to conduct marketing audit to review the performance of various products and may review their segmentation process in order to re-assess their view of the market and to look for new opportunities.]]> 2020-11-17 06:14:00 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930359610 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930359922 A consumer is the end user of a product or service. They may or may not be the actual buying customer.

A customer is the one who decides the purchasing of a particular product. They may or may not be the consumer of that product.

]]> 2020-11-17 06:14:08 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930359922 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930366255 are individuals or households who buy products for their personal consumption to satisfy their basic needs/wants]]> 2020-11-17 06:16:51 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930366255 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930370855 approach where marketers identify and target their audience and place advertisements where their audience will see, hear, or interact with them offline ]]> 2020-11-17 06:18:49 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930370855 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930371571 It consists of other companies which purchase products to use in their business, like producing other kinds of products. For example, Machinery to produce goods 

]]> 2020-11-17 06:19:08 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930371571 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930376978 are individuals or groups that buy products to resell and gain profits]]> 2020-11-17 06:21:21 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930376978 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930377512 Is the data driven marketing with the use of the internet and technology ]]> 2020-11-17 06:21:36 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930377512 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930383382 -Less dependent on technology
-Security and privacy issues is minimal
-Seen as reliable
-Less tech-savvy consumer base]]> 2020-11-17 06:24:18 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930383382 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930386573 It is a set of tactical tools - product, price , place and promotion that the company blends to produce the response it wants from its target audience. ]]> 2020-11-17 06:25:42 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930386573 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930387620 -Highly technology-dependent
-Security and privacy concerns
-Building up trust and acceptance gradually
-Youth and young adults demographic base]]> 2020-11-17 06:26:11 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930387620 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930387731 A good or service that can be offered to a market to satisfy a customer's needs
Product is tangible while service is intangible
 -Quality 
-Variety/Range/Product Line
-Features and Benefits
-Design and Styles
-Brand name/Branding
-Packaging & Labelling
-Services]]> 2020-11-17 06:26:13 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930387731 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930389592 The value used to exchange for the product
3 ways to earn more profits :
1) Sell more
2) Reduce business costs
3) Increase selling price
Examples :
-Trade and consumer discounts
-Trade and consumer allowances
-Payment period
-Mark up and profit margins
-Credit term]]> 2020-11-17 06:27:03 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930389592 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930390442 Channels [Retail, Wholesale, Online]
-Area Coverage
-Stock/Inventory Management
-Transport and delivery
-Logistics and warehousing
-Bulk-breaking and assortment]]> 2020-11-17 06:27:23 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930390442 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930391080 To communicate the value of the product  and to encourage potential customers to buy
5 basic promotion elements :
-Advertising
-Personal selling
-Sales promotion
-Public relations
-Direct Marketing ]]> 2020-11-17 06:27:38 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930391080 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930391713 -Little to  no interaction
-Difficult to target
-Difficult to collect lots of real time information
-Difficult to edit/change
-Usually more expensive]]> 2020-11-17 06:27:55 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930391713 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930394071 Service Quality is more apparent to consumers in brick and mortar stores , but even in online shopping ,consumers expect great service such as a quick response time to fulfilling an order or addressing a complaint.]]> 2020-11-17 06:28:58 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930394071 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930394650 They are government agencies that purcahse products or services to use them for public purposes or governmental aims.
eg. hospital equipments]]> 2020-11-17 06:29:13 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930394650 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930395614 - Firms engage with their potential consumers in real time 
- Easier to target and engage directly with customers 
- Detailed information about consumers can be collected real time 
- Easier in comparison to edit an ad if needed 
- Less costly than non-digital campaign]]> 2020-11-17 06:29:37 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930395614 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930396820 Process is crucial since it ensures that the same standard of service is repeatedly delivered to the customers

]]> 2020-11-17 06:30:08 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930396820 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930397326 People are a defining factor in a service delivery process, since a service is inseparable from the person providing it ]]> 2020-11-17 06:30:22 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930397326 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930397699 Since services are intangible in  nature, most service providers strive to incorporate certain tangible elements into their offering to enhance customer service]]> 2020-11-17 06:30:31 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930397699 yanlingng9887 https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930405418 consist of consumers, producers, resellers and governments from other countries]]> 2020-11-17 06:33:46 UTC https://padlet.com/yanlingng9887/t4lp7j2ufdbqddbp/wish/930405418