1. Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.
2. Mass Marketing means marketing the mass produced goods.
3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company.
4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people.
5. Synchrome marketing means irregular demand.
6. De-marketing means the demand for the product exceeds the supply.
7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc
8. Consumer goods are required in large number and directly used by the consumer.
9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TV’s and refrigerator.
10. The client of an advertising agency is called Customer.
11. CRM means Customer Relationship Management.
12. Segmentation of consumer market is based on consumer characteristics and consumer responses.
13. B2B means – business to business
14. Database marketing is direct form of marketing.
15. A Buyers Market means supply exceeds demands
16. Niche market means a specified market for the target group.
17. HNI marketing means High Networth Individual.
18. Relationship marketing is useful for cross selling of products.
19. Good public relations indicate
-Improved marketing skills
-Improved brand image
-Improved customer service
20. Marketing functions includes
-Designing new products
-Advertisements
-Publicity
-After sales service
21. Effective selling skills depends on
-Effective lead generation
-Sales call planning
-Territory allocation
-Effective communication skills
22. Marketing channels mean
-Delivery period
-Delivery outlets
-Delivery time
-Delivery place
23. Marketing information means
-Knowledge level of marketing staffs
-Information about marketing staff
-Information regarding share market
-Knowledge of related markets
24. A DSA means Direct Selling Agent.
25. Service marketing resorted to in Insurance companies and banks.
26. Service marketing is same as
-Internet marketing
-Telemarketing
-Internal marketing
-Relationship marketing
27. Market segmentation helps to determine target groups.
28. The seven P’s of marketing
-Product
-Price
-Place
-Promoting
-Process
-People
-Physical Evidence
29. SWOT – Strengths Weakness Opportunities Threats.
30. Standard marketing practices include lowering the selling price.
31. USP of a product means Unique Selling Proposition.
“Rosser Reeves” coined the term USP.
32. MBO means Management by Objectives (“Peter Drucker”)
33. AIDA – Attention Interest Desire Action
34. BTL – Below the line
35. Right-time marketing is an approach to marketing which selects an appropriate time and place for the delivery of a marketing message.
36. A group of related products manufactured by a single company is called product line.
37. MDSS – Marketing Decision Support System.
38. Target group for the marketing of Internet Banking – All the computer educated customers.
39. Innovation means new ideas and product designing.
40. Service after sale is not the function of marketing staff.
41. A good seller should have the following quality/qualities
Devotion to the work
Sympathy
Submissive
42. Planned cost service means – additional profit on same cost.
43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.
44. The aim of successful marketing is to increase the outlet of the seller.
45. Low end market means a market for lower price products.
46. The strategy used to charge different prices for the same product is called price discrimination.
47. The system designed to support marketing decision making is – marketing information system.
48. Conversion in marketing means converting suspect into prospect.
49. MC means – Marginal Cost.
50. Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of database marketing. Personalization tries to make a unique product offered for each customer.
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