S1: Introduction to Marketing Flashcards
1
Q
What are the 3 C’s?
A
Company, Competitive Environment, Customer
2
Q
What does STP stand for?
A
Segmentation, Targeting, Positioning
3
Q
What are the 4 P’s?
A
Product, Price, Place, Promotion
4
Q
How do you define what business you’re in?
A
The customer need your product satisfies, and long-term customer relationships
5
Q
What is CLV, and how is it calculated?
A
Customer Lifetime Value.
Sum of each transaction (profit margin x probability of repeat purchase discounted to present value) - acquisition cost
6
Q
What is the brand resonance pyramid?
A
A set of branding activities that lead to increased CLV
7
Q
What are the 4 stages of brand development, and the branding objective at each stage?
A
- Identity: deep, broad brand awareness
- Meaning: points-of-parity and difference
- Response: positive, accessible reactions
- Relationships: intense, active loyalty
