A basic difference between strategic

marketing and tactical marketing is that strategic marketing is the planning of how things will be whereas Tactical marketing is the tactics you will implement to make things happen as per strategy.

Macro environment analysis used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service, etc.

It is also known as the task environment.

Analyze and identify potential opportunities and hazards that might impact the business

It seeks to establish a clear and concerted direction for all marketing activities of an organization.

It determines the means or tactics to implement the strategies.

About knowing your customers needs, while also caring about the well-being of society and the environment

Good or service that a company offers to customers

Needs to be based on what your customers are prepared to pay

Advertising, direct marketing, in-store

Where/how your product is displayed

Excellent customer service not only converts to sales, but can increase your customer base by referrals

Delivering of your product to the consumer

We need to consider all the things our customer sees, hears, even smell in relation to our product

Viewed as the entire process of selling products to satisfy consumer's needs and wants

The two interacting components of Marketing

The two interacting components of Market

The three (3) Key Result Area of Marketing

The outcome of selling a product to satisfy needs/wants

The outcome of outperforming competitors in the industry where the enterprise is present

Outcome of deducting expenses over sales

Finding new users from existing segment

New use of the same product

Encouraging more use of the product

Extending the use of products

A belief that states that customers would always acquire products which are cheaper and more readily available

Holds the belief that consumers won't mind the high price because of the quality

Believes that the customers won't buy the products if they're not being advertised to them

All about learning as much as you can about your customers

Focused on both solving problems and building and maintaining customer relations

Focuses on ensuring that customers get the best experience from the business

Company's ability to turn customers into repeat buyers and prevent from switching

An ongoing positive relationship between a customer and a business

Bringing in new customers

Measurement that determines how happy customers are with a company products, services, and capabilities

Focus on the actual sales process for an item

The perception of what a product or service is worth to a customer versus the possible alternatives

Total worth to a business of a customer over the whole period of their relationship

Build your network-it's your sales _________________

Communication is a _______ sport, so do it early and often

E-mail marketing keeps relationship strong on a shoestring ______

Reward _____ customers, and they'll reward you

Loyal customers are your best ___________

Developing a relationship with your customers is one of the most effective strategies a business can adopt. Unfortunately, it is also one that is very often put on the back burner