Essay on Marketing Management Module
1. ________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
Customer perceived value (CPV) is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives (Kotler & Keller, 2006, p. 177).
2. The 20-80 rule states _____.
The well-known 20-80 rule says that the top 20 percent of the customers may generate as much as 80 percent of the company's profits. (Kotler & Keller, 2006, p. 184).
3. Formal groups having a direct influence on a person such as religious, professional, and trade union groups are _____.
A person's …show more content…
Provide sales team with concise sales-tracking reports during a promotion. By pushing snippets of valuable information to sales team at appropriate intervals during and at the end of a promotion, they are armed with the knowledge they need and focus their efforts on selling.
3 – Customer Segmentation and Profiling
Because data that resides in the database is relational, it allows for the extraction of data from multiple source tables using a single query to filter out unwanted records. The ability to extract data based on multiple criteria avoids the problem of multiple listings for a single customer.
4 – Profile Profitable Customers
Profile customers and segment them into groups based on their contribution to bottom line. Starting with 3 groups: not profitable, somewhat profitable, highly profitable. Analyze the characteristics of the two profitable groups and use this information to develop a group profile. Focus lead generation efforts on attracting companies that match these 2 profiles and reduce or eliminate marketing efforts directed at the unprofitable group.
5 – Develop Reports for Delivery of Timely, Accurate Information
Creating a few standardized reports, once built, these reports can be cloned and populated with data using a query. To update with new or refreshed data, replace the report record source with a new source query. The new data will flow into the