1
Q
What does the marketing cycle represent?
A
- Marketing is an ongoing and interrelated process of understanding, creating, communicating and delivering offerings.
2
Q
What are the objectives of marketing?
A
- Monetory objectives
- Revenue
- Profits
- Return on Investments
- Market objectives
- Sales Volume
- Market Share
- Market Share Growth
- Customer objectives
- Customer relationship management
- Customer satisfaction
- Customer retention rate
- Societal objectives
- Corporate social responsibilities
3
Q
How are marketing objectives measured?
A
- Marketing metrics → specific measures of marketing performance
4
Q
What are the characteristics of effective marketing objectives?
A
- Specific
- Measurable
- Actionable
- Realistic
- Time-bound
5
Q
What are the components of a marketing plan?
A
- Executive summary
- Introduction
- Situation analysis (micro and macro environment)
- Company analysis
- Environment analysis
- Competitive analysis
- Customer analysis
- SWOT analysis
- Objectives
- Target market
- Marketing mix strategy
- Product
- Price
- Distribution (place)
- Promotion
- Budget
- Implementation
- Evaluation
- Conclusion
