Module A - Introduction Flashcards
1
Q
What is Marketing
A
The process of creating value for customers and building customer relationships with the scope of capturing customer value in return.
2
Q
Share of customer
A
Varieties offered by the company to keep the customer hooked for as long as possible.
3
Q
Customer lifetime value
A
The money that a company manages to receive from a customer’s total purchasing power.
4
Q
Equity
A
The customer lifetime value multiplied by the number of customers in the database.
5
Q
The Marketing Mix
A
The set of tools used to implement a marketing strategy
In tangible goods - 4p’s (marketing mix)
In intangible goods - extended marketing mix (7p’s)
6
Q
What are the 4p’s?
What are the extra 3p’s?
A
4p’s: price, product, place, promotion
Extra 3p’s: physical evidence, people, process
