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Category: Introductory Concepts

Marketing Career Quiz

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Author Geoff Fripp/Posted on Categories Introductory Concepts

Marketing Mix Multiple Choice Review Questions: VIDEO

20 MCQ’s for the PLACE Mix

20 MCQ’s for the PRICE Mix

Also see the Marketing Trivia Quiz… Read more...

Author Geoff Fripp/Posted on Categories Marketing Mix, Videos

Is a marketing career easy?

Is a marketing career easy?

Sometimes students study marketing in a business course because it is perceived to be somewhat easier than more challenging and technical areas, such as economics, finance, and analytics.

However, from the point of view of … Read more...

Author Geoff Fripp/Posted on Categories Introductory Concepts, News and Cases

Free Customer Journey Map Template

About the Customer Journey Map Template

This free customer journey map template is designed to quickly and easily build relatively detailed maps for multiple brand personas. Customer journey maps are an effective way of identifying how potential customers make … Read more...

Author Geoff Fripp/Posted on Categories Buyer Decision Process, Customer Satisfaction, Promotion Concepts, Services Marketing

Concerns with The Net Promoter Score (NPS)

Brief History of the Net Promoter Score (NPS)

The NPS was developed by management consultant Fred Reichfeld (associated with consulting firm Bain and Co.) and presented in a Harvard Business Review article in 2003.

Since that time the metric has … Read more...

Author Geoff Fripp/Posted on Categories Customer Satisfaction, Metrics

The Role of Price in Marketing

Marketing’s View of Price

We often come across the term price; it’s a common term in everyday life.

In general terms, price can be considered as a monetary amount that is charged in order to get something desired from the … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, PricingTags price, quality, value

The Marketing Process

What are the steps in the basic marketing process? As you probably know, the purpose of marketing activities is to create value for consumers and to deliver ongoing profitability (or other success metric) for the firm as a result. Marketing … Read more...

Author Geoff Fripp/Posted on Categories Introductory Concepts, Marketing Strategy

A simple definition of marketing

Here is a straightforward definition of marketing…

Marketing is the delivery of customer value and satisfaction at a profit

When you first start learning about marketing, you will notice that there are lots of different definitions. The above definition is … Read more...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags definition

Marketing strategy and the marketing mix

There is a direct relationship between the firm/brand’s marketing strategy and its marketing mix design. A marketing mix should be the execution of the firm’s marketing strategy.

In other words, marketing strategy is implemented through the combination and design of … Read more...

Author Geoff Fripp/Posted on Categories Marketing Mix, Marketing Plans, Marketing Strategy

How marketing strategy guides marketing decisions

Any organization/brand is faced with an almost unlimited selection of choices and opportunities in the marketplace. For example, there are literally thousands of different ways that firms can choose to promote their activities. There are millions of different products available … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, Marketing StrategyTags marketing mix, strategy, swot, tactics

Markets, exchange and target markets

When studying marketing it is important to understand the concept of a market and the exchange process.

When we use the term “market" in a marketing sense, there are actually three possible views that we are considering – the overall … Read more...

Author Geoff Fripp/Posted on /Categories Introductory Concepts, Segmentation, Targeting and Positioning, Target marketTags segmentation, target market

Outcomes of customer satisfaction

The two dimensions of customer satisfaction

The customer’s assessment of their satisfaction following a purchase and consumption of a product involves a comparison of two views:

  1. What were their EXPECTATIONS of value prior to purchase?
  2. What was their perception of
… Read more...
Author Geoff Fripp/Posted on /Categories Customer Satisfaction, Introductory ConceptsTags clv, customer satisfaction

What is a benefit?

Defining benefits in marketing terms

In marketing, the word benefit refers to some advantage or positive outcome for the consumer. That is, the consumer is better off due to the purchase/consumption of the product.

Products are designed to solve problems … Read more...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags benefits, value

Value proposition example for McDonald’s

A good way to think about the firm’s value proposition is consider what is different and beneficial about the firm’s (or brand’s) offering/s in the marketplace.

Over time, firms/brands will develop and enhance multiple offerings for their target markets. If … Read more...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags examples, value

Utility in marketing

Customer value = economic utility

If you have previously studied economics, then the chances are you have seen the word “utility". Utility is the economic term for the range of value and benefits received by consumer from the acquisition and … Read more...

Author Geoff Fripp/Posted on /Categories Customer Satisfaction, Introductory ConceptsTags value

What is marketing? In simple terms

What is marketing?

The best place to start a study of marketing principles is to first clearly understand what is meant by marketing.

As you have probably gathered, the word “marketing" is obviously related to the word “market". You should … Read more...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags definition

Quick marketing checklist for consumer products

In marketing textbooks, consumer products are often shown classified into one of four classes – namely, convenience products, shopping products, specialty products, and unsought products. This is a very old marketing model that is still current and relevant today.

There … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, Product MixTags examples, marketing mix, models, product

The marketing mix for convenience products

In marketing textbooks, when discussing the product mix, the consumer product classification system is usually discussed. Please note that there are several articles on this website relating to the consumer product classification system, such as how products are classified, … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, Product MixTags marketing mix, models, product

The marketing mix for shopping products

In many marketing textbooks, when discussing the product mix, the consumer product classification system is often a model that is presented. Please note that there are several articles on this website relating to the consumer product classification system – please … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, Product MixTags marketing mix, models, product

The marketing mix for specialty products

Many marketing textbooks present the consumer product classification system, which is a model that helps guide the development and design of the marketing mix. Please note that there are several articles on this website relating to the consumer product classification … Read more...

Author Geoff Fripp/Posted on /Categories Marketing Mix, Product MixTags marketing mix, models, product

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Welcome to the Marketing Study Guide

This free study guide has been prepared to meet the information needs of university-level marketing students throughout the world. This study guide is a comprehensive discussion (along with many examples) of the key aspects of marketing as covered across various textbooks and study programs

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