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Marketing Exam Study!

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    Place and Time

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      When delivering, it involves decisions on when and where to deliver, as well as methods

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        Use the electronic or physical channels, speed and convenience of place and time have become important determinants of effective service delivery today

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    Price and other user outlays

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        Make sure customer sees this price as “worth it”, if not, go beyond this

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        Make it worth it to the customer, and give the customer satisfaction

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    Promotion and Education

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        Be sure to use marketing programs, without them, no one will know about your product

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        Suppliers need to inform customers about benefits of this service, where and when to obtain it, and how their participation can provide the best results

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    Process

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        How a firm does things, the underlying processes, these are just as important as what it does

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        Create an effective process

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        Customers are often involved in these processes, as co-producers

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        If it’s badly designed slow processes and ineffective, it leads to a disappointing experience as well

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        Make sure front line staff does the best they can

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    Physical Environment

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        Appearance of buildings, landscaping, vehicles, interior furnishing, equipment, staff uniforms, signs, printed materials, and other visible cues are all signs of good evidence of a firms quality

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        Manage physical evidence carefully

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    People

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        No matter what, services will always require direct interaction between customers and customer-contact personnel

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        These interactions strongly influence how customers perceive service quality

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    Productivity and Quality

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        Improving productivity is essential for any strategy for reducing costs, but making inappropriate cuts will lead to bad service quality

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        Improving quality is essential for product differentiation and for building customer satisfaction and loyalty

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        It’s unwise to invest in service-quality improvements without understanding trade-offs between the incremental costs and incremental revenues

Marketing management orientations

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    Managing the marketing effort

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      Requires four marketing management functions, analysis, planning, implementation, and control

      • Analysis

        • Managing the marketing function begins with complete analysis of company’s situation

        • Analyze markets to find attractive opportunities and avoid environmental threats

      • Planning

        • A detailed plan that assesses the current marketing situation and outlines marketing objectives, a marketing strategy, action programs, budgets, and controls

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