Sales And Marketing Concepts Pdf
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Having a handle on these words and phrases will allow you to confidently speak with customers, vendors, your sales team, and your marketing partner. Here are marketing, ecommerce , and sales terms that you should know.
Everything you need to know about marketing management. Marketing Management performs all managerial functions in the field of marketing. Marketing Management identifies market opportunities and comes out with appropriate strategies for exploring those opportunities profitably. It has to implement marketing programme and evaluate continuously the effectiveness of marketing-mix. It has to remove the deficiencies observed in the actual execution of marketing plans, policies, and procedures.
The Five Marketing Concepts
Having a handle on these words and phrases will allow you to confidently speak with customers, vendors, your sales team, and your marketing partner.
Here are marketing, ecommerce , and sales terms that you should know. Testing two versions of a webpage, email subject line, landing page, CTA, etc. Putting a spotlight on a product, service or business through paid broadcasting — print or digital. Tracking data and creating meaningful patterns from it that inform future marketing endeavors. The data can come from website traffic, conversions, social media, etc.
Repeating income for one calendar year. You may see it referred to as ARR. A computer, machine, or software system or process that can mimic certain aspects of human intellect. AI programs may be able to display image perception, reasoning and voice recognition. The starting point from which comparisons are made for analysis, performance improvement, forecasting and strategy creation.
Originally, the term was web log or weblog and eventually Individuals, small businesses and even large corporations write articles, commentaries, and the like, publishing regularly on their website. A primary component of the inbound marketing method, blogging helps to drive website traffic, builds thought leadership and authority, and drives leads. At this stage, leads are interested in a demo, a call, or a free consultation.
The number of people who land on a page of your website and leave without clicking on anything before moving on to another page on your site. Anything that brings about awareness of a specific product, service or business while separating it from other establishments. A summary of your ideal buyer, based on market research, data and hypothesis.
The representation helps marketers define their ideal audience and it helps salespeople determine lead quality. This tells your audience what action you want them to take.
The percentage of customers who cancel a product or service or leave within a specified time period. This number shows the people that move through your website or marketing campaigns. Approaching prospective clients by phone or face-to-face without having ever had any interaction with them before. The type of advertising in which a company makes a direct comparison to another brand, firm or organization. A program that manages all of the aspects of creating content.
These may include editing, indexing, navigational elements, etc. This is one of the most important aspects of your ecommerce business. This is where you turn a visitor into a customer. But it may not be an actual purchase. It could be subscribing to your email list, filling out a contact form, or requesting a quote. The path, or course of actions, a prospect will go through to eventually become a lead.
These events can include a call to action, lead form, thank you page, downloadable content, etc. Percentage of people who take a desired action, such as filling out a form, registering, signing up for a newsletter, or any activity other than just browsing a web page. The total cost marketing pays to acquire a lead. An advertising metric that marketers use to determine the amount they will pay for ads based on how many clicks the ad receives.
It can be calculated by dividing the time and money spent on customer acquisition for a specific period of time by the number of new customers gained. Software that helps you organize all of your marketing and sales activities, including storing contact information, tracking emails, storing deals, and more. This is the Monday directly following Black Friday. A specific profiling aspect that takes into consideration age, gender, income, family life, social class, etc.
Marketing to a target audience solely via the internet. Could be email marketing, content marketing, etc. Also can be seen as directly communicating with your primary target audience. Can come in the form of advertising, marketing or communications. The very first call with a prospect. Also referred to as a lead magnet, ebooks are generally a piece of longer content designed to generate leads.
This is generated from several sources, including users who have signed up, opted in to a free offer, or have shown an interest in your ecommerce brand in another way. A measurement of likes, shares, comments or other interaction a particular piece of content receives. Content that is valuable to a reader today, in 5 years and in 10 years.
Any aspect of your website that is hard to understand, distracting or causes visitors to move on from your page. In other words, your perfect client. A type of content that is visual in nature, making complex information easy to understand and digest.
A means to measure the performance of various factors, from employee functions to marketing tactics. Tracking KPIs will help your organization achieve its goals. A page on your website that houses a form that prospects will fill out and exchange their personal information for a lead magnet or free offer such as an ebook, demo or consultation.
An individual or a company that has shown interest in one of your products or services. Engaging and building relationships with potential customers through a variety of marketing techniques. A prediction of the net profit attributed to the entire future relationship with a customer.
Refers to the psychological idea that people feel more negatively about losing money than they do about the prospect of getting money. The profit gained from a product or service after all expenses for selling that product or service are covered.
Through lead nurturing, behavior-based strategies and more, you can use marketing automation to send the right marketing messages to the right people at the right time.
A lead that is ready to be handed over to the sales team. An MQL has had some sort of positive interaction with the company, such as a discussion, downloading marketing products, etc.
High-intelligence research and development of a specific industry for the betterment of sound business decisions. The process of identifying, anticipating and satisfying customer requirements in a profitable way. The creation of a new product that involves research, development, product testing and launching. The offer is designed to help you generate leads, and they can include everything from a webinar, ebook, checklist, template, demo and more.
Developed for individuals who are looking to evaluate their S. A series of media releases, conferences, social images, etc. A marketing qualified lead meets marketing objectives, while a sales qualified lead meets sales objectives. A website that changes based on the device the consumer uses. Mobile, laptop, and desktop devices offer different views of a website, and responsive design accommodate for each view, without having to build separate websites for each one.
A way to measure the profitability of the investment you make in marketing, sales, etc. A prospect or lead generated from someone who may be interested in what the salesperson is selling. Establishing relationships with the intent of developing a long term association with a prospect or potential customer. This strategy is much less expensive than gaining new customers.
The entire sales process as a whole — from prospect to paying customer — and all marketing, advertising and sales processes in between. SEO elements include keywords, title and image tags, links, and more. Platforms like Facebook, Twitter, Instagram and Snapchat that help users connect. Marketers use these networks to increase awareness, grow their customer base and achieve business goals. An internal study often used by organizations to identify their strengths,weaknesses, opportunities and threats.
A group of customers toward which a business has decided to aim its marketing efforts and merchandise. They are looking for answers to a problem they just realized they are having. Marketers create TOFU content that help prospects identify the problem and leads them to solutions. A factor that differentiates a product from its competitors, such as the low cost, the quality, etc.
A method of product promotion that relies on getting customers to market an idea, product or service on their own. A series of emails designed to nurture leads.
A powerful marketing asset, you can use workflows to engage leads, learn more about prospects, segment lists, and much more. Subscribe to Flight Media Blog Notifications. Blog Comments. Maja Jaredic Maja is passionate marketer, pursuing excellence in all that she does for clients.
What is Marketing Management?
Marketing strategy is a long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of customers. Scholars like Philip Kotler continue to debate the precise meaning of marketing strategy. Consequently, the literature offers many different definitions. On close examination, however, these definitions appear to centre around the notion that strategy refers to a broad statement of what is to be achieved. Strategic planning involves an analysis of the company's strategic initial situation prior to the formulation, evaluation and selection of market-oriented competitive position that contributes to the company's goals and marketing objectives. Strategic marketing, as a distinct field of study emerged in the s and 80s, and built on strategic management that preceded it. Marketing strategy highlights the role of marketing as a link between the organization and its customers.
There are 5 marketing concepts that organizations adopt and execute. These are; 1 production concept, 2 product concept, 3 selling concept, 4 marketing concept, and 5 societal marketing concept. Marketing is a department of management that tries to design strategies that will build profitable relationships with target consumers. There are five alternative concepts under which organizations design and carry out their marketing strategies to answer these. Companies adopting this orientation run a major risk of focusing too narrowly on their operations and losing sight of the real objective. Most times, the production concept can lead to marketing myopia. Management focuses on improving production and distribution efficiency.
The Five Marketing Concepts
HA- Company Orientations to the Marketplace. What philosophy should guide a company marketing and selling efforts?
Same philosophy cannot result in a gain to every business, hence different businesses use different marketing concepts also called marketing management philosophies. Marketing and marketing concepts are directly related. Given the importance of customer needs and wants in marketing, we have to understand them correctly. They have been defined long time ago as this:. There are numerous marketing concepts which are used by marketers as a reference in the marketing field.