8 Marketing Plan ( building a powerful Bootstrap) – Flashcards

process of creating & delivering desired goods & services to customers involves all the activities associated with winnings & retaining loyal customers .

unconventional low cost creative marketing strategies designed to give small companies an edge over their larger, richer more powerful rivals.

specific group of customer at whom a company aims its goods or service .

study of important population characteristic s such as age, income, education, race & others.

the vehicle for gathering the information that serves as the foundation for the marketing plan it involves systematically collecting, analyzing & interpreting data pertaining to a company's market,

- is to learn how to improve the level of satisfaction for existing customers & find ways to attract new customers.

a system based on gathering data individual customer & developing a marketing program designed to appeal specifically to their needs, taste, & preference.

process in which computer software that uses statistical analysis, database technology & artificial intelligence finds hidden patterns, trends, & connections in data so that the business owners can make better marketing decisions & predictions about customers behavior .

any commercial news covered by the media that boost sales but for which a small company does not pay .

a key customer benefit of a product or service that sets it apart from the competition . It answer the critical question every customer ask " what's in it for me?"

communicating a company's unique selling proposition (usp) to its target customer in a consistent & integrated manner.

Threshold Attributes- benefits that customers expect from the brand. Performance attributes- benefits that your brand can offer customers that are superior to those. that your competitors offer. Excitement Attributes- benefits that customer get excited about & that have the capacity to differentiate your company's brand from all other.

the process of systematically creating the optimum experience for customers every time they interact with the company.

the philosophy of producing a high quality product or service & achieving quality in every aspect of the business & its relationship with the customer; the focus is on continuous improvement in the quality delivered to customers.

marketing strategy that relies on 3 principles: 1. speeding product to market. 2. shortening customer response time in manufacturing & delivery 3. reducing the administrative time required to fill an order.

the entire process rather than attempt to do the same things in the same way - only faster .