What is customer engagement?

Connecting with customers through personalized communication.

What is the primary goal of marketing?

To fulfill customer needs and drive sales.

What drives customer loyalty?

Convenience, positive experience, and trust.

What is a critical aspect of B2B marketing?

Personal sales and relationship-building.

What does customer engagement often involve?

Personalizing communication and social media interaction.

How do companies show they care about customers?

Through excellent customer service, personalization, and responsiveness.

How can pricing affect customer loyalty?

Fair and competitive pricing builds loyalty, while overpriced items can drive customers away.

Why is personalization important in the marketing mix?

It appeals to specific customer preferences, making them feel valued.

What is brand awareness?

The extent to which customers recognize and recall a brand.

How does customer feedback help businesses?

It provides insights to improve products and services.

What role does social media play in marketing?

It enables direct interaction and engagement with customers.

Why is it important to identify customer needs and wants?

Understanding what customers really want helps you to create products and services they'll love which is key to successful marketing and building strong relationships with your audience.

is a type of marketing that uses social networks for discounts ex: Groupon

Consumer to Consumer involves peer interaction offers lower prices and unique items Ex. Ebay, Etsy

List some of the costs of acquiring new customers

marketing expenses, sales team costs, promotional incentives, onboarding costs

What is market segmentation?

Dividing a market into distinct groups of buyers with different needs or behaviors.

How does promotion differ from advertising?

Promotion includes all activities to boost sales, while advertising is just one form of promotion.

What is the purpose of customer retention strategies?

To keep existing customers engaged and encourage repeat business.

List of costs of maintaining current customers

customer support, loyalty programs, engagement activities, product improvement

Business to Consumer focuses on emotions and brand loyalty uses retail, e-commerce and advertising channels

Foundations of Marketing 2526 Flashcards

Student preview

27 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is marketing?

Back

Identifying, anticipating, and satisfying customer needs and wants.

2.

FLASHCARD QUESTION

Front

What is a customer need?

Back

An essential requirement to solve a problem.

3.

FLASHCARD QUESTION

Front

What is a customer want?

Back

A desire influenced by trends and personal preferences.

4.

FLASHCARD QUESTION

Front

What is customer loyalty?

Back

The likelihood of customers returning to a brand due to satisfaction.

5.

FLASHCARD QUESTION

Front

What does the marketing mix include?

Back

The 4 Ps: Product, Price, Place, and Promotion.

6.

FLASHCARD QUESTION

Front

What is promotion in marketing?

Back

Activities to inform and engage customers.

7.

FLASHCARD QUESTION

Front

What is nonprofit marketing?

Back

Focuses on raising awareness for social causes.

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