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Foundation of Marketing Peregrine Global questions and answers graded A+ 2024/2025
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Foundation of Marketing Peregrine Global questions and answers graded A+ 2024/2025
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Foundation of Marketing PeregrineGlobal
Marketing - ANSMarketing is an alternate between a company and its customers.
The company offers advantages to its clients and seeks earnings.
Why is Marketing Important? - ANSMarketing is the business; it need to permeate the whole
corporation. Marketing and purchaser delight is all and sundry's obligation to hold those
relationships
American Marketing Association - ANSdefine advertising as "the activity, set of institutions, and
approaches for developing, speaking, turning in, and exchanging services that have price for
clients, clients, partners, and society at massive.
Classical marketing - ANSis a philosophy which courses the mindset of each person in a
company to stimulate and fulfill the want and desires of each purchaser.
Competitive advertising - ANSa method includes product strategy, pricing method, integrated
advertising and marketing communications, channels, and logistics method. It needs to provide
fee to the goal market
5 C's - ANSMarketing Framework Part 1
Examining the External Environment
Customers: Who are they? What are they like? Do we need to draw unique customers?
Company: What are our strengths and weaknesses? What consumer blessings can we
provide?
Context: What is occurring in our enterprise that could reshape our destiny commercial
enterprise?
Collaborators: Can we address our customers' desires whilst strengthening our commercial
enterprise to commercial enterprise (B2B) partnerships?
Competitors: Who are the competitors we need to recollect? What are their possibly movements
and reactions?
This helps marketers examine any enterprise problem or possibility in phrases of a preferred
analysis of the complete enterprise scenario. The purchaser and enterprise are principal gamers
, inside the advertising and marketing alternate. The context includes the macro-surroundings:
the economic system, prison constraints, cultural differences, and worldwide segments.
STP - ANSMarketing Framework Part 2
Strategic Marketing Planning
Segmentation: Customers aren't all of the same; they range of their options, wishes, and assets.
Targeting: Attracting a number of those customers makes higher experience than going after
others.
Positioning: Communicate your benefits clearly in your meant clients.
Refers to the fact that groups or groups are unlikely to be all things to absolutely everyone, so
it's miles exceptional to become aware of agencies or segments of clients who proportion similar
needs and wants. When the different segments' alternatives are understood, then the agency
can identify the focused segments.
4 P's - ANSMarketing Framework Part 3
Marketing Tactics
Product: Will customers want what your agency is ready to produce?
Price: Will clients pay what you would really like to rate?
Place: Where and the way will clients purchase your market providing?
Promotion: What can you inform your customers, or do for them, to entice them to buy?
Then starts advertising efforts, A dating is evolved with that target section with the aid of
positioning merchandise in the market thru the questions above
Convenience purchases - ANSStaples (preferred, often ate up goods which include bread or
fuel) and impulse purchases (sweet or National Enquirer to be had close to the take a look
at-out stand). (B2C low)
Shopping purchases - ANSGoing on-line to Citysearch.Com to find a eating place and make
reservations when heading out of metropolis. (B2C moderate)
Specialty purchases - ANSA new automobile, style shows, an highly-priced laptop laptop. (B2C
excessive)
Straight rebuy - ANSYou're out of toothpaste and also you mindlessly pop a tube of your
common logo into your basket. (B2B low)
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