Marketing Notes

Distinctive features or characteristics of a product/service that differentiate it from competitors and provide a compelling reason for customers to choose it.

A place where buyers and sellers gather to exchange goods/services or the potential customers who can purchase a specific product.

Marketing approach focusing on designing high-quality products and promoting them based on their features, quality, and uniqueness.

Marketing approach emphasizing quick sales and revenue generation through aggressive sales tactics and meeting short-term goals.

Marketing approach centered on understanding and meeting customer needs through market research and tailored products/strategies.

Marketing approach prioritizing exceptional customer experiences, individual needs fulfillment, and long-term relationships over short-term profits.

Companies analyzing customer needs to make decisions that better satisfy those needs compared to competitors.

Goods used by businesses for production, including raw materials, processed goods, and finished goods.

Goods sold to the general public, distinguishing between consumer goods and industrial goods based on the buyer's purpose.

Services categorized similarly to goods, distinguishing between consumer services and industrial services.

All consumers and potential consumers who purchase a product, often referred to as the target market.

Market where all companies compete for consumers' spending, aiming to attract customers with their offerings.

Product, Price, Place, and Promotion - key elements in marketing strategy to create, communicate, and deliver value to customers.

Push, Pull, and Combination - methods used to push products to consumers, pull consumers towards products, or a mix of both.

Stages consumers go through before making a purchase, including Awareness, Search, Evaluation, Trial, and Purchase.

Psychological theory categorizing human needs into five levels, from basic physiological needs to self-actualization.

Strategies and assets that give a business an edge over competitors, aiming for sustainable advantages in the long term.

Stages a product goes through from Introduction to Decline, including Growth, Maturity, and strategies for each stage.