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Consumer behaviour :
Consumer behaviour is a study of individual, group or organization and all the activities associated with the
select, purchase, use and disposal of goods and services.
Consumer behaviour is a study of how a individual consumer, group or organization select, buy, use and
dispose ideas, good and service to satisfy their needs and wants. It refers to the actions of the consumer in the
marketplace and the underlying motives for those actions.
According to Engel, Blackwell, and Mansard, ‘consumer behaviour is the actions and decision processes of
people who purchase goods and services for personal consumption’.
International Business :
MNC :
CRM
CRM is business strategy that aims to understand, enhance and manage the needs of the organisation current
and potential customer.
CRM is a strategy for managing all the company’s relationship and interaction with your customer and
potential customer.
CRM shift from traditional approach of retention of customer with addition to the acquisition of new
customers
CRM is concerned with the creation, development and enhancement of individualised customer
relationships with carefully targeted customers and customer groups resulting in maximizing their total
customer life-time value
Service Marketing
defines services as - “Activities, benefits and satisfactions which are offered for
sale or are provided in connection with the sale of goods.”
Service is the economic activity offered by a business to its client.
https://www.managementstudyguide.com/definition-and-characteristics-of-
services.htm
Definition - What does Dynamic Pricing mean?
Dynamic pricing is a customer or user billing mode in which the price for a product
frequently rotates based on market demand, growth and other trends. It enables
setting a cost for software or Web-based product that is highly flexible in nature.
Dynamic pricing is also known as real-time pricing.
Dynamic pricing is a pricing approach based on a flexible change in pricing
strategies and tactics depending on various events on the market (prices, stocks,
availability of goods at competitors’ shops), historical data (sales of goods at
different periods), and retailer goals (profit, market share, the withdrawal of a
new product, the sale of balances from a stock).
https://www.techopedia.com/definition/29600/dynamic-pricing
service blueprint
A service blueprint is an operational planning tool that provides guidance on how
a service will be provided, specifying the physical evidence, staff actions, and support
systems / infrastructure needed to deliver the serviceacross its different channels.
Sales Management
Sales management is the process of developing a sales force, coordinating sales
operations, and implementing sales techniques that allow a business to
consistently hit, and even surpass, its sales targets.
Sales management is the process of handling every aspects of sale’s team
activities to ensure that every goals of company are met
Sales forecasting is a projection in to the future of expected demand given a stated set of
environmental conditions.
It is not just an estimation of sales but also matching sales opportunities – actual and
potential – with sales planning and procedures.
MARKET STRATEGY
Marketing strategy is a long-term, forward-looking approach to planning with the fundamental
goal achieving a sustainable competitive advantage.
Marketing highlight the role of marketing as the link between organisation and its
customer.
Marketing strategy is business overall game plan for reaching people and
turning them into potential customer for the product and services that business
provides.
Marketing strategy is business overall game plan for reaching people and turning
them into potential customer’s and providing them with product and services.
Marketing Plan :
A document that lay out type and timing of marketing activity.
A marketing plan is a comprehensive document that outlines a company’s overall
marketing effort. It is a blueprint that outlines how a company will implement its
marketing strategy, and use a combination of resources to achieve business
objectives including sales targets or customer acquisition.
Marketing strategy what goal you need to achieve & marketing plan is how you
will achieve that goals.
Competition :
Monopoly
Perfect competition
Oligopoly
Monopolistic competition (sell product which is differentiated)
Pricing strategy :
1. Everyday low price
2. Price skimming
3. High & low pricing
4. Loss Leadership pricing
5. Penetration pricing strategy
6. Psychological pricing strategy
7. Prestige pricing
8. Bundle pricing
Process of NPD :
1. Idea generation
2. Idea screening
3. Concept development & testing
4. Marketing strategy
5. Business Analysis
6. Product development
7. Test marketing
8. Commercialisation
9. Introduction
PEST Analysis :
Political factors – Government role in influence for your industry E.g.
Election, taxation change, Rules and regulation etc
Economic factors - impact of current economy , exchange rate,
globalisation impact
Social factors - Change in lifestyle, trend, buying pattern, religious beliefs,
social attitude etc
Technological factors – impact due to change in advancement of
technology.
Swot Analysis :
Strength - Internal
Weakness - Internal
Opportunities - External
Threats – External
BRAND CULTURE :
Organization – Google
Google cafes
Chief happiness officer
Direct mails
20% projects
FixIts
Googlegeist
Open innovations
Closed innovation
Children’s play ground
DISNEY :
Omnichannel is a cross-channel content strategy that organizations use to improve their
user experience. Rather than working in parallel, communication channels and their
supporting resources are designed and orchestrated to cooperate.