Dictionary of Marketing

Marketing intelligence

Information with reasonable frequency of the events in the marketing environment of the company that help managers prepare and adjust marketing plans.

The marketing intelligence can be done in-house or outsourced. Services that do not exist today enable companies to have information when brands are mentioned on the Internet, for example. An example of a free service that serves the market intelligence to permit monitoring the mention of certain names on the Internet is Google Alert .

Marketing intermediaries

Help the company promote, sell and distribute its goods to final buyers, intermediaries between dealers are marketing, physical distribution firms, marketing services agencies and financial intermediaries.

With the evolution of the economy, the number of marketing intermediaries grows due to the specialization of services that each one is having.

Marketing environment

Participants marketing and external forces that affect marketing management's ability to develop and maintain good relationships with their target customers.

Market Segmentation

The process of dividing the market into groups of buyers with similar characteristics, or behaviors and needs that may require a marketing mix differently.

Marketing audit

A thorough examination of the environment, objectives, strategies and activities of the company, in order to determine problem areas and opportunities and recommend an action plan to improve the performance of marketing.

In theory, the marketing audit could be done by the staff of the company, in practice the most common and effective way is to hire a consultant to audit them because of the distance to the company's operations, avoiding biases that may arise.

Market positioning

One of the most misused terms in marketing because it is not actually the company that makes the positioning, but consumers do that in your mind.

The market position in practice is the attempt to make a product that occupies a place clear, distinct and desirable in the minds of target consumers in relation to other competing products.

Marketing mix

The marketing mix is ​​the set of tools - product, price, place and promotion (the four Ps of marketing) that a company uses to get your offer to the market to get the desired behavior of the consumer to buy.

Customer Satisfaction

It is the intensity with which the customer perceives the performance of a product compared to your expectations.

If performance does not meet expectations, the customer will be dissatisfied. If match is satisfied. And if it is overcome, he will be delighted.

In the long term the company should at least meet customer expectations leaving you satisfied. But the ideal is that it overcomes them as delighted customers tend to be very profitable for companies.

Customer value

One of the most important concepts of marketing, when a company puts a product on the market it is making an offer that has greater value to the customer is likely to be accepted.

The customer value is the difference between what the customer gets a product and buying it spends this acquisition. The value for the customer as well as money involves many other aspects such as psychological costs, status, etc. ..

Relationship Marketing

The process of creation, maintenance and enhancement of relationships with customers and partners.

About the viewpoint of relationship marketing, not just sell to the consumer only once: it is necessary to maintain a relationship with him, in the long run tends to make it extremely profitable for the company.