MARKETING MANAGEMENT MODULE

MODULE-MARKETING MANAGEMENT

·         Advertising	Paid commercial messages(in any medium) designed to inform, persuade, or remind potential or actual customers about a product of service
·         After-sale actions	Those actions you take to retain a customer by providing additional benefits after the sale has been completed
·         AIDA	An acronym for a sales “rule.” Gain the prospect’s “Attention,” arouse their “Interest,” pique their “Desire,” and move them to take “Action”
·         Banners	Internet advertising which runs on carefully selected sites where you expect to find your prospects and customers. The ads usually look like a banner (hence the name) a cal attention to your own Website.
·         Behavioural Segmentation	A market segmentation technique based on different behaviours exhibited by consumers
·         Benefits	What people buy, the “what’s in it for me” that all consumers seek, as distinguished from features, the characteristics of a product or service that deliver benefits
·         Branding	The techniques used to establish a brand name for a commodity. Successful branding examples: Coke, Reebok, Tata, Maruti Alto etc. Currently used mainly in e-commerce for companies such as eBay, Amazon and iVillage
·         Browser	Software such as Netspace or Microsoft’s Internet Explorer that is used to examine various Internet resources
·         Clipping service	A service business that clips items and references from periodicals and other sources(Increasingly from the Internet) according to parameters set by the client
·         Collateral material	Promotional material in addition to paid advertising, which includes brochures, flyers, business cards, stationery, and other image pieces.
·         Competitive edge	Your competitive advantages over your most direct competitors
·         Consumer demand	The aggregate demand for a given product or service in a defined market area. This is an important measure to determine for your product or service.
·         Core competency	What your business does best; its most important and central activity
·         Cost structure	The analysis of all the cost factors in the production or marketing of a product or service, including burden or share of overhead
·         Customer need	Primary needs (physiological, safety, and security) and secondary needs (such as self-expression or status) have a big impact on buyer behavior. You should ascertain what customer needs your particular service satisfies.
·         Database marketing	Compiling detailed consumer information in a database format allows marketers to precisely allocate marketing efforts to the most productive market segments for a given product or family of products
·         Deliverable	The tangibles that you actually give to the customer, such as a consultant’s bound report
·         Demographics	The study of the characteristics of a population, such as age, gender, religious affiliation, income
·         Direct mail	A marketing technique in which sales are generated by sending a direct mail package(advertising, product offer, response device) to a mailing list
·         Direct response marketing	A variant of direct marketing in which the prospect qualifies him or herself by responding to an offer. The offer may be presented as a coupon, a direct mail package, an 800 number in a space advertisement or other means. By responding, the prospect indicates an interest in the offer
·         E-commerce	Short of “electronic commerce,” and includes I-commerce as well as other forms of electronic commerce
·         Ethnic or holistic marketing	Marketing promotions aimed at a specific ethnic group, such as Asians or Hispanics
·         Facility brochure	A brochure that explains the full range of services or products a firm provides its customers
·         Focus group	A market research technique in which a small number of people are brought together and interviewed, under controlled conditions, about their perceptions of the value of a product or service
·         Geographic segmentation	Market segmentation based on a geographic area. A sole proprietor mediation practice might have a geographic of a few blocks.
·         Home page	The main web page, or website, for an individual, organization, or business
·         I-commerce	Internet-based commerce, a narrower term than e-commerce though less commonly used
·         Image	The managed perception of the general public of a person, business, or institution. This is an essential piece of the marketing mix
·         Market gaps	Areas in your market where there are untapped opportunities for you to take advantage of.
·         Market niche	A smaller fragment of a larger market that’s especially suited to your unique abilities and your business’s product or service
·         Market segmentation	A method of organizing and categorizing people or organizations that buy your products or services.
·         Market Share	A portion, usually expressed as a percentage, of a market that a business operations in
·         Marketing	All the activities involved in moving products and services from the producer to the consumer, including advertising, sales, packaging, and pricing.
·         Meta tags	Words that appear in the header of a web site’s home page
·         Multi-level marketing	A method of distributing good and services that incorporates network marketing direct selling, and person-to-person marketing
·         Networking	A promotional tool for expanding your group of contacts, as well as building relationships in your field and in others
·         Positioning	How you differentiate the services of a firm from those of your competitors and determine that market niche to fill
·         Price ceiling and price floor	The “right” price for your goods and services will float somewhere between a “price ceiling”(what the traffic will bear) and a “price floor”(high enough to cover your cost and profit needs).
·         Prospecting	A process of selecting likely customers from a group
·         Psychographics	A method of segmenting a market that looks at a group’s behavior patterns, attitudes, and expectations
·         Public relations	Methods and activities that promote a favorable relationship with the public
·         Sociocultural segmentation	A method of segmenting a market that takes into account a group’s religions, national origin, race, social class, and marital status
·         Target market	The people or organizations in the market who are most likely to buy from the organization
·         Trends	The inclination of a market to favor a particular product or product feature. URL: Uniform Resource Locator
·         Telemarketing	A sales tool that also called telephone marketing, telling the information about the product and services, offers , new schemes through telephonic conversation among the customers.