1. Market May Comprise of:
i. One seller and many buyers
ii. Many sellers and one buyer
iii. Many sellers and Many buyers
iv. Few sellers and Many buyers
v. Many sellers and Few buyers
2. A “likely” interested customer of the bank is termed as prospect.
3. In Marketing, calling on the prospective customers is known as a call.
4. Division of the whole market into relatively homogeneous groups is called Market Segmentation.
5. Marketing Guru Philip Kotler defines marketsegmentation as the subdivision of a market into homogeneous subjects of customers.
6. Marketing Mix: It is the set of marketing tools that a firm uses to pursue its marketing objectives in the target market.
7. E. Jerome McCarty proposed a classification of marketing mix in four key areas:
1. Product 2. Price
3. Place 4. Promotion
8. SWOT Analysis: A tool used by organization to help the firm to establish its strength.
S – Strengths W – Weakness
O – Opportunity T – Threats
Note: Strengths and Weakness are – Internal Function Opportunity and Threats are - External Function
9. 4 Stages of Product Life Cycle (PLC):
i. Introduction ii. Growth
iii. Maturity iv. Decline
10. Brand: Brand is defined as “a name, term, sign and symbol or a combination of these, that identifies the maker or seller of the product
11. Brand Equity: It refers to the value of the Brand.
12. JIT – Just in Time
13. MRTP – Monopolies and Restrictive Trade Practices
14. IMC – Integrated Marketing Communications
15. In Double win strategy customer gets price debate.
16. Monopoly (only one seller) exists when a specific person or enterprise is the only supplier of a particular commodity, which relates to a single entity's control of a market to purchase a good or service.
17. Oligopoly (few sellers) which consists of a few entities dominating an industry.
18. MRP – Manufacturing Resource Planning
19. HNI – High Network Individual
20. The Concept of Goriila Marketing is introduced by J.C. Levinson.
21. The Method of sending promotional items to clients is called Drip Marketing.
22. Marketing via e-mail falls under the category of direct marketing.
23. CTR (Click Through Rate) is related to Advertising metrics.
24. Creating a buzz in the industry is an example of Viral Marketing.
25. A non – traditional, low cost, flexible and highly effective marketing is termed as Goriila Marketing.