Business Marketing (2nd Quarter) Flashcards
refers to a market
where in the seller sells the product
for a primary reason of making profits
while buyer buys the products for
personal use.
Consumer Market
also known as “Business to Consumer” or “B2C”
Consumer Market
market where in
the products or services of a
particular organization are sold to or
purchased by other organization or
business.
Business Market
also known as “Business to Business” or “B2B”
Business Market
It also happens in support industries
where the products that are
manufactured are components
required to be assembled into the
products or services offered by some
other business organization.
Business Market
Examples of Consumer Marketing
† Fast Moving Consume Goods
† Consumer Durables
† Soft Goods
are items
that are sold quickly to the end-users
generally at nominal costs.
Fast Moving Consumer Goods
Goods that a consumer uses for a
considerable amount of time rather than
consuming in one use
Consumer Durables
- Refrigerators, and appliances found in the kitchen
White Goods
- TV, Consoles, Used for entertainment & fun
- portable
Brown Goods
Soft goods are products which have a
shorter lifecycle and their value
decreases after every use
Soft Goods
Examples of business Marketing (industrial marketing)
† Bulk SMS service
† Office Furnitures
- Bulk messaging (Dissemination of SMS messages)
Bulk SMS service
End user will not purchase workstations
for his own use at home
Office Furnitures
The act of taking care of customer’s needs by providing and delivering professional, helpful, high-quality assistance.
Customer Service
What are the 7 elements of customer service strategy:
- Create Customer Service Vision
- Assess Customer Needs
- Hire the Right Employees
- Set Goals for Customer Service
- Train on Service Skills
- Hold people accountable
- Reward & Recognize the good service
6 pillars of Customer Service:
† Attitude
† Interest
† Action
† Verbal
† Body language
† Tone of Voice
Is a system of patronage in which a customer regularly buys their merchandise from a certain client.
SUKI SYSTEM
is a partner system of doing business in the Philippines, wherein a customer buys certain products from a particular vendor, offering discounts and other perks for such exclusivity.
Suki
_____ do not entertain
consumers who purchase products and
services for their end-use. They deal only with
other businesses/firms to sell their products.
Business marketers
In _____, products are sold to
consumers either for their own use or use by
their family members.
Consumer markets
Examples of Fast moving consumer goods (2)
- Aerated drinks
- Grocery items
Examples of soft goods (3)
- Shirts
- Clothes
- Shoes
Examples of consumer markets (slide 18)
Food
Drinks
Beverages
Legal
Health and financial services
Clothes
Electronic stuff and its accessories
Where buyers purchase products or services for the sake of the consumer instead of buying things to resell it
Consumer markets
Utilized by organizations
Bulk SMS service
It is used by media companies,
enterprises, banks (for marketing and fraud
control) and consumer brands for a variety of
purposes including entertainment, enterprise and
mobile marketing.
Bulk messaging
the process of
selling your product and services to
other businesses, where those products
and services will either be used as a raw
material for the manufacturing of other
products.
Business market
a form of transaction
between businesses, such as one involving a
manufacturer and wholesaler, or a wholesaler
and a retailer.
Business-to-business (B2B)
B2B transactions can include:
- A manufacturer and a wholesaler
- Wholesaler and retailer
refers
to business that is conducted between
companies, rather than between
a company and individual consumer.
Business-to-business
The first step in creating a customer service strategy is communicating the customer service vision to employees
Create a customer service vision
Employees need to understand what the vision and organizational goals are for the customer service and understand their responsibility to help achieve that vision
Create a customer service vision
Share a compelling vision for customer service anx teach employees service skills
Create a customer service vision
This will result in your employees providing a better customer service experience than an organization that leaves the front-line employees untrained and unprepared for dealing with customer issues
Create a customer service vision
Organizations can’t meet the needs of consumers without understanding what consumers want
Assess customer needs
A customer needs assessment is done by soliciting feedback through focus groups, satisfaction surveys or customer comment cards and developing a comprehensive plan to meet and exceed customer expectations
Assess customer needs
Hiring with the right customer in mind is another step in an overall strategy for strong customer service
Hire the right employees
Screen employees to ensure that they possess the disposition and skill set to help support a strong customer service environment
Hire the right employees
Skills can be taught but attitude and personality cannot
Hire the right employees
Once customer needs and expectations are identified and customer satisfaction is measured, it is time to create goals for achieving customer satisfaction
Set goals for customer service
If you hire right your employees will have a natural ability to serve your customers well
Train on service skills
