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…
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…
Types of products: Product: A good, a service, or an idea consisting of tangible and intangible features. Non-durable goods: An item that does not last and is consumed only once, or for a limited number of times. (Food and fuel) Durable good: A product that lasts for an extended period of time and encompasses items…
Market segmentation: The aggregation of prospective buyers into groups that have common needs and respond similarly to marketing programs. 2 main market segments: – Consumer market: Consists of products, ideas, and services that a person can purchase for personal use – Business market: Products that are purchased either to run a business or to be…
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…
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…
Consumer behavior: Actions a person takes when purchasing and using products and services. Consumer purchase decision process: Stages that a buyer passes through when making choices about which products or services to buy. Stages: Problem recognition: perceiving a need: This is when a person realizes that the difference between what he or she has and…
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, and…
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…
The cardiovascular system or circulatory system is a system that 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 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…
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…
Factors affecting the absorption of alcohol Body weight – greater volume of blood in a larger person keeps the blood alcohol level lower Speed of drinking – faster alcohol is consumed the quicker the blood alcohol will rise Food in stomach – food absorbs the alcohol in your body Mix of drinks – alcohol and…
Imagine a life where you had no freedom to speak what was on your mind, and imagine what it would be like to live in a world like this. Noam Chomsky, a linguistics professor at the Massachusetts Institute of Technology is a big supporter with the idea of free speech. He is known across the…
Theory The Law of Conservation of Momentum states that in a closed system, the total momentum of masses before and after their collision is constant-momentum, which is conserved. This states that when two things collide the sum of the momentum will be the same before the collision as after. This law also states that the…
Abstract Proteins are very complex structures and have many variables that affect their function. This lab examined some of those variables. For the first part beef liver, which contains the enzyme catalase, was added to solutions of different concentrations of the substrate hydrogen peroxide. The second and third sections tested the effects of temperature and…
Honduras is a tiny nation in Central America, known for its violent history and consistent political instability. Honduras borders many nations, including Guatemala, Nicaragua, and El Salvador. Along with land borders, Honduras is also bordered by the Pacific Ocean, the Gulf of Fonseca and the Gulf of Honduras. Honduras is small in physical stature compared…
The end of Brave New World contained a lot of exciting components. In Chapter 13 Lenina remains confused by how she might be in love with one man. She is finally ready to sleep with John. After taking soma, she goes to seduce John, and John talks about how he wants to grow old with…
Brave New World by Aldous Huxley is a really unique and interesting novel. Right from the start, I felt that Huxley used satire as an effective literary tool. In the first chapter Huxley makes a very bold statement. As the world is getting excited about the march of science, Huxley shows that this could very…
As World War II drew to a close the political geographic makeup of Europe began to shift drastically. After Germany had invaded Russia in 1941 as part of Operation Barbarossa, the tide of the war began to shift. After the German invasion was halted, the USSR began to push the enemy back, and in 1945…