Marketing: Customer Relationship Management

Customer relationship management (CRM): The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. (Software that keeps your files, banking systems have all your information stored). The software can be assessed from wherever because its on the companies server. CRM entails cultural changes: CRM is an overall company…

Marketing: Distribution and Supply Chain

Nature and importance of marketing channels: Marketing channel: the set of individuals or firms involved in the process of making a product available. Intermediaries: Individuals or firms performing a role in the marketing channel, involved in making a product available. Functions performed by intermediaries: –          Transactional function: This is done when they buy and sell…

Market research & development

Marketing information system (MIS): A set of procedures and processes for collecting, sorting, analyzing, and summarizing information on an ongoing basis. Market research: The process of collecting and analyzing information in order to recommend actions to improve marketing activities. Research classifications: Exploratory research: Preliminary research conducted to clarify the scope and nature of the marketing…

Marketing: Values, beliefs and attitudes

Learning: Behavioral learning: The process of developing automatic responses to a type of situation built up through repeated exposure to it. Marketers use: Stimulus generalization: Using the same brand name to launch new products is a common application. Stimulus discrimination: Ability to perceive differences among similar products. Cognitive learning: Involves making connections between two or…

The Marketing Environment: Competitive Forces

The marketing environmental scan: The process of continually acquiring information on events occurring outside the organization to identify trends, opportunities and threats to your business. 6 forces marketers look at: Demographic forces: The statistical data on a population according to characteristics such as age, gender, ethnicity, income and occupation. Socio cultural forces: Cultural values, ideas,…

Marketing mix & Marketing fundamentals

The essence of marketing: –          Focusing on customer needs –          Creating customer value (Achieved by delivering outstanding value through the combination of (1) pricing strategies, (2) product design, and (3) service elements. –          Appealing to target markets –          Coordinating the marketing mix Customer value: The unique combination of benefits received by targeted buyers that includes…

Cardiovascular System: Structure & Function

The cardiovascular system or circulatory system is a system which moves nutrients, gases and wastes between cells, helps fight diseases, and transports blood throughout the body (Circulatory System). The main components of the human cardiovascular system include the heart, blood, and various blood vessels. There are several different circuits contained in the cardiovascular system. One…

Bonding Capacity: Rules & Exceptions

–          Bonding capacity is an important chemical property for elements –          All members of the Alkali Metals have one extra electron and need to give it away –          Alkaline Earth Metals have two extra electrons that they must get rid of –          Halogens need to acquire an electron along with chalcogens –          Alkaline Earth will…

Labour Force: Income Security & Insurance

Income Support System ·          Employment Insurance (EI) ·          provides a level of income replacement to those workers who are temporarily out of work and meet strict eligibility conditions ·          Social Assistance (SA) ·          provides minimal income support to those who do not qualify for Employment Insurance Key Concepts ·          Employment: any legal activity carried out…