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Marketing management philosophy:


(1) Production Concept
(2) Product Concept
(3) Selling Concept
(4) Marketing Concept
(5) Societal Marketing Concept
1. Production Concept
Those companies who believe in this philosophy think that if the goods/services are
cheap and they can be made available at many places, there cannot be any problem
regarding sale.
2. Product Concept
Those companies who believe in this philosophy are of the opinion that if the quality of
goods or services is of good standard, the customers can be easily attracted. The basis of
this thinking is that the customers get attracted towards the products of good quality.
3. Selling Concept
Those companies who believe in this concept think that leaving alone the customers will
not help. Instead there is a need to attract the customers towards them. They think that
goods are not bought but they have to be sold.
4. Marketing Concept
Those companies who believe in this concept are of the opinion that success can be
achieved only through consumer satisfaction. The basis of this thinking is that only those
goods/service should be made available which the consumers want or desire and not the
things which you can do.
5. Societal Marketing Concept
This concept stresses not only the customer satisfaction but
Consumer Welfare/Societal Welfare. This concept is almost
marketing concept. Under this concept, it is believed that
consumers would not help and the welfare of the whole society

also gives importance to


a step further than the
mere satisfaction of the
has to be kept in mind.

2. Marketing myopia:
Focusing on the companys needs & the desires of a company to sell specific goods or
services in the economic market rather than defining the company and its products to
respond to the customers needs and wants.

3. Customer satisfaction: is a measure of how products and services supplied by a


company meet or surpass customer expectation.
4. Customer perceived value: The anticipated benefit from a consumer's
perspective of a product or service.
5. Value proposition:
A value proposition is a comparison of the benefits offered by a company's product to its
customers relative to the price it asks customers to pay.
A value proposition is a promise of value to be delivered and a belief from the customer
that value will be experienced.
Why a consumer should buy a product or use a service.
6. CRM:
Managing a companys interactions with current and future customers.
7. Consumer behaviour:
The process by which individuals search for, select, purchase, use, and dispose of goods
and services, in satisfaction of their needs and wants. See also consumer decision
making.

8. Personal consumer:
An individual who buys products or services for personal use and not for manufacture or
resale
9. Organization consumer:
People in charge of purchasing products and services for organizations, governments and
business. Organizational buyers make buying decisions for their organizations and
purchase products and services professionally.
10.Targeting:
The selection of potential customers to whom a business wishes to sell products or
services. The targeting strategy involves segmenting the market, choosing which
segments of the market are appropriate, and determining the products that will be
offered in each segment.
11.Positioning:
Positioning is the process by which marketers try to create an image or identity in the
minds of their target market for its product, brand, or organization.
12.Category killer:
It describes a product, service, brand, or company that has such a distinct sustainable
competitive advantage that competing firms find it almost impossible to operate
profitably in that industry (or in the same local area). The existence of a category killer
eliminates almost all market entities, whether real or virtual.
13. Product mix, also known as product assortment, refers to the total number of
product lines that a company offers to its customers.
The width of a company's product mix pertains to the number of product lines that a
company sells. For example, if a company has two product lines, its product mix width is
two.
Product mix length pertains to the number of total products or items in a company's
product mix,
Depth of a product mix pertains to the total number of variations for each product.
Variations can include size, flavor and any other distinguishing characteristic.
14.Territorial marketing:
A practice involving the application of branding and sales strategies to different regions,
cities, states or countries. An example of place marketing in business consists of tourism
departments and city councils with place marketing teams competing to attract tourists
and new residents use branding techniques. Also called territorial marketing or place
branding.
15.Selective Pricing:
Setting different prices for the same product or service in different markets.
16. category pricing:, which involves cosmetically modifying a product such that
the variations allow it to sell in a number of price categories; customer group
pricing:, which involves modifying the price of a product or service so that
different groups of consumers pay different prices; peak pricing: setting a price

which varies according to the level of demand; and service level pricing:
setting a price based on the specific level of service chosen from a range.
Above the Line (ATL) advertising is where mass media is used to promote brands and
reach out to the target consumers. These include conventional media as we know it,
television and radio advertising, print as well as internet.
Below the line (BTL) advertising is more one to one, and involves the distribution of
pamphlets, handbills, stickers, promotions, brochures placed at point of sale, on the
roads through banners and placards.
17.Social Marketing:
1. Application of commercial marketing concepts, knowledge, and techniques to noncommercial ends (such as campaigns against smoking and drunken driving) for the
society's welfare.
2. Use of commercial marketing in promotion of goods and services in a way that helps in
promoting the consumers' and, by extension, the society's well-being.
18.Social cost:
The expense to an entire society resulting from a news event, an activity or a change in
policy.
19.Green Marketing:
Green marketing is the marketing of products that are presumed to be environmentally
safe.
20.Annual confidential report:
This is an annual assessment report of subordinate staffs maintained by Human
Resources Department of the concerned institution. This is the basis on which annual rise
in pay called 'increment" is processed. This is an important document based on which
promotions or if necessary stagnation orders are passed.
21. Market Penetration is a measure of brand or category popularity. It is defined as
the number of people who buy a specific brand or a category of goods at least
once in a given period, divided by the size of the relevant market population.
Market penetration occurs when a company penetrates a market in which current or
similar products already exist.

22.Information Marketing:
Process of selling information to others. (courses, seminars, DVDs, eBooks, etc.). Power of
the internet and sell digital products that are inexpensive to design, easy to deliver, and
extremely profitable.
23.Concentrated marketing:
Growth strategy in which resources of a firm are focused on a well-defined market niche
or population segment.
24.Blind Sopt:
Ad jis k end men likha hota hy k coming soon. Advertiser ka pta ni chalta.
25.Product line:

A set of related products sold by a single company. a series of different products which
form a group, all made by the same company
26.Captive Products: (complimentary goods)
Item made specifically for use with another item, usually from the same manufacturer.
For example, shaving blades for a razor, parts for a machine, software for a computer or
operating system.
27.Reminder marketing:
A marketing strategy typically consisting of brief messages sent with the objective of
reminding a target consumer group about a product or service or of introducing a new
theme into an existing marketing program. Coca Cola
28.Subliminal advertising:
Promotional messages the recipient is not aware of, such as those played at very low
volume or flashed on a screen for less than a second.
29.Societal marketing:
A company should make good marketing decisions by considering consumers' wants, the
company's requirements, and society's long-term interests.
30.By-Product:
Output other than the principal product.
31. Diffusion is the process by which a new idea or new product is accepted by the
market.
32.Internal marketing:
Internal marketing is the process of motivating and empowering the employees of a
company to work as a team for the overall wellbeing of the customers and thereby the
company itself.
33.Brand Extension:
Launching a new product by using an existing brand name on a new product in a
different category.
34.Market Challenger Strategies:
A firm that has a market share below that of the market leader, but enough of a market
presence that it can exert upward pressure in its effort to gain more control.
Frontal attack
In a pure frontal attack, the attacker matches its opponents product, advertising, price,
and distribution such as cutting price vis-a-vis
2. Flank attack (weak spot target)
An enemys weak spots are natural targets. As Japanese automakers did when they
developed more fuel-efficient cars.
Encirclement attack
The encirclement maneuver is an attempt to capture a wide slice of the enemys territory
through a blitz. It involves launching a grand offensive on several fronts.
Bypass attack
The most indirect assault strategy is the bypass. It means bypassing enemy and
attacking easer markets to broaden ones resource based
Guerrilla warfare

Guerrilla challenger uses both conventional and unconventional means of attack. These
include selective price
cuts, intense promotional blitzes, and occasional legal action.
35.Sweet Spot
The strategic sweet spot of a company is where it meets customers needs in a way that
rivals cant, given the context in which it competes.

36.Value Maximization:The process of increasing net worth through increased


share prices on common stocks the investor has purchased.
37. Upstream Marketing, also called inbound or front-end marketing, consists of
market and user research activities Before you can launch your product, that will
determine if and what you can sell, to whom, where, why, when, how and for how
much.
38. Downstream Marketing, also called outbound or back-end marketing, starts the
moment you are ready to Go-to-Market, flowing with your customers and
competitors downstream. It includes promotion, advertising, printed and
electronic materials, public relations, press releases, clinical education, user
training, sales training, exhibitions, demonstrations, workshops, and customer
relations management.
39.Differentiation marketing:
Strategy in which several market niches or population segments are targeted with
different products for each niche or segment.
40.ADAPTIVE MARKETING:
It refers to changing or reforming (adapting) a firms marketing mix to suit to the
particular geography in which the firm is operating.

Kiosks:
-A small, temporary, standalone booth used in high-foot-traffic areas for marketing
purposes. A kiosk will usually be manned by one or two individuals who help attract
attention to the booth to get new customers. Like ATM of Alfalah in Pace.
-Free standing, semi-permanent display or retail outlet, within a large retail establishment
or a shopping mall.
41. A single window system is where all facilities are available in one place. For
example, in banking there are various dealings like withdrawing cash from a
savings account, current account, purchase of drafts or pay orders, making fixed
deposits, etc.
42. A tagline is a variant of a branding slogan typically used in marketing materials
and advertising.
43. Service Equation = (Tangible + Reliability + Responsiveness + Assurance +
Empathy)
44.Insurance Marketing:

Means creating awareness about insurance products through direct or indirect contacts.
45.Franchising:
Arrangement where one party (the franchiser) grants another party (the franchisee) the
right to use its trademark or trade-name as well as certain business systems and
processes, to produce and market a good or service according to certain specifications.
46.Licensing:
The owner of a copyright, know how, patent, service mark, trademark, or other
intellectual property, allows a licensee to use, make, or sell copies of the original.
Concept Development and Testing

Develop the marketing and engineering details

Investigate intellectual property issues and search patent databases

Who is the target market and who is the decision maker in the purchasing
process?

What product features must the product incorporate?

What benefits will the product provide?

How will consumers react to the product?

How will the product be produced most cost effectively?

Prove feasibility through virtual computer aided rendering and rapid


prototyping

What will it cost to produce it?


Testing the Concept by asking a number of prospective customers what they think
of the idea

47.Guerrilla Marketing:
A marketing tactic in which a company uses surprise and/or unconventional interactions
in order to promote a product or service.
Guerrilla Marketing is an advertising strategy that focuses on low-cost unconventional
marketing tactics that yield maximum results.
48.Exclusive Distribution: (other are Selective and intensive)
Only allows the named distributor to sell a specific product. For example, Apple had an
exclusive distribution deal with AT&T to provide the iPhone to consumers.
49.Broad Branding:
In a broadband pay structure, the numbers of salary grades are consolidated into fewer,
but broader, pay ranges. In broad banding, the spread of the pay ranges is wider and
there is less overlap with other pay ranges.
50.Brand Ambassador:
Brand Ambassador is a marketing term for a person employed by an organization or
company to promote its products or services within the activity known as branding.

51.Branding:
The marketing practice of creating a name, symbol or design that identifies and
differentiates a product from other products.
52. Person Marketing is marketing activity aimed at creating target market
awareness, and a favorable opinion, of a particular person.
53. A buying center (also known as a decision making unit or DMU) is a group of
employees, family members, or members of any type of organization responsible
for finalizing major decisions, usually involving a purchase.
54.Levels of product:
Core Product
Level one is the most basic level and simply looks at what people set out to buy
and what benefits the producer would like their product to offer buyers. Basic
needs
Actual prodct: packaging, quality, features, brand
Augmented product: Installation, delivery, warranty, Installation etc.

Soft products: (Non-Durable)


Those are immediately consumed in one use or ones that have a lifespan of less than 3
years. Such as cosmetics and cleaning products, food, fuel, beer, cigarettes, medication.
Hard Products: (Durable)
Those products does not quickly wear out, or more specifically, one that yields utility
over time rather than being completely consumed in one use. Like cars, household goods
(home appliances, consumer electronics, furniture, etc.), sports equipment, firearms, and
toys.
55. De-marketing: Marketing to reduce demand temporarily or permanently.
Efforts aimed at discouraging (not destroying) the demand for a product which (1) a firm
cannot supply in large-enough quantities, or (2) does not want to supply in a certain
region where the high costs of distribution or promotion allow only a too little profit
margin. Common demarketing strategies include higher prices, scaled-down advertising,
and product redesign.