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Marketing Study Material for Bank Exams

Marketing Study Material Part - II
Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.   In other terms Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization.
There are several types of marketing are there,  those are
  1. A figure of merit is a quantity used to characterize the performance of a device, system or method, relative to its alternatives. In engineering, figures of merit are often defined for particular materials or devices in order to determine their relative utility for an application. In commerce, such figures are often used as a marketing tool to convince consumers to choose a particular brand.
  2. Freebie marketing, also known as the razor and blades business model, is a business model wherein one item is sold at a low price (or given away for free) in order to increase sales of a complementary good, such as supplies (inkjet printers and ink cartridges, "Swiffers" and cleaning fluid, mobile phones and service contracts) or game consoles (accessories and software).
  3. Global marketing is “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives".
  4. Inbound marketing is promoting a company through blogs, podcasts, video, eBooks, enewsletters, whitepapers, SEO, social media marketing, and other forms of content marketing which serve to bring customers in closer to the brand.
  5. Influencer marketing, (also Influence Marketing) is a form of marketing that has emerged from a variety of recent practices and studies, in which focus is placed on specific key individuals (or types of individual) rather than the target market as a whole. It identifies the individuals that have influence over potential buyers, and orients marketing activities around these influencers.
  6. Loyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.
  7. Marketing communications are messages and related media used to communicate with a market. Marketing communications is the "promotion" part of the "marketing mix" or the "four Ps": price, place, promotion, and product. It can also refer to the strategy used by a company or individual to reach their target market through various types of communication.
  8. Menu engineering is an interdisciplinary field of study devoted to the deliberate and strategic construction of menus.
  9. Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit.
  10. Permission marketing is a term popularized by Seth Godin (but found earlier ) used in marketing in general and e-marketing specifically. The undesirable opposite of permission marketing is interruption marketing. Marketers obtain permission before advancing to the next step in the purchasing process. For example, they ask permission to send email newsletters to prospective customers. It is mostly used by online marketers, notably email marketers and search marketers, as well as certain direct marketers who send a catalog in response to a request.
  11. A pitch book is a marketing device used by investment banks around the world. It consists of a careful arrangement and analysis of the investment considerations of a potential or current client, and/or a reference for comparison for an employee in an investment or commercial bank. Its purpose is to secure a deal for the investment bank with the potential client.
  12. In marketing, product bundling is offering several products for sale as one combined product. It is a common feature in many imperfectly competitive product markets. Firms in telecommunications, financial services, health care, and information industries frequently offer products in bundles. This is again common in the software business (for example: bundle a word processor, a spreadsheet, and a database into a single office suite), in the cable television industry (for example, basic cable in the United States generally offers many channels at one price), and in the fast food industry in which multiple items are combined into a complete meal. A bundle of products may be called a package deal or a compilation or an anthology.
  13. Proximity marketing is the localized wireless distribution of advertising content associated with a particular place.
  14. Relationship marketing was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions.
  15. A seeding trial or marketing trial is a form of marketing, conducted in the name of research, designed to target product sampling towards selected consumers. In the marketing research field, seeding is the process of allocating marketing to specific customers, or groups of customers, in order to stimulate the internal dynamics of the market, and enhance the diffusion process. In medicine, seeding trials are clinical trials or research studies in which the primary objective is to introduce the concept of a particular medical intervention—such as a pharmaceutical drug or medical device—to physicians, rather than to test a scientific hypothesis. In software development, beta-testing may also be referred to as conducting seeding trials.
  16. Share of Voice in Online Advertising is an ad revenue model that focuses on weight or percentage among other advertisers. For example, if there are four advertisers on a website, each advertiser gets 25 percent of the advertising weight. This method ensures one ad will not be seen any more than the other three ads. And, since there are typically a limited number of advertisers using a Share of Voice model, ad exposure is optimized.
  17. Shopper marketing is "understanding how one's target consumers behave as shoppers, in different channels and formats, and leveraging this intelligence to the benefit of all stakeholders, defined as brands, consumers, retailers and shoppers."
  18. The business terms push and pull originated in the logistic and supply chain management, but are also widely used in marketing.
  19. Social marketing seeks to develop and integrate marketing concepts with other approaches to influence behaviors that benefit individuals and communities for the greater social good.
  20. Student marketing refers to the promotion of products, brands and ideas to the 3 million+ higher and further education student population. Student marketing is generally realised through student media or ambient marketing on campuses.
  21. Guerrilla marketing was originally a marketing strategy in which low-cost, unconventional means (including the use of graffiti, sticker bombing, flyer posting, etc.) were used in a (generally) localized fashion to draw attention to an idea, product, or service.

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