Marketing quick notes for SBI
Quick Notes:
1. Marketing is the process of communicating the value of a product or service to customers, for the
purpose of selling that product or service.
2. Mass Marketing means marketing the mass produced goods.
3. Strategic marketing means decision making process that involves the analysis of the internal
capabilities and external environment of a company.
4. Stimulation marketing means there is no demand for the product and people are not interested to
purchase the product hence special offers are given to stimulate the people.
5. Synchrome marketing means irregular demand.
6. De-marketing means the demand for the product exceeds the supply.
7. Producer goods means goods which are priced high and required a few to produce other goods in the
industry ex: lathe, motor etc
8. Consumer goods are required in large number and directly used by the consumer.
9. Derived goods means the demand for the product is derived from the demand of other products ex:
the selling of stabilizer depends upon the selling of TV’s and refrigerator.
10. The client of an advertising agency is called Customer.
11. CRM means Customer Relationship Management.
12. Segmentation of consumer market is based on consumer characteristics and consumer responses.
13. B2B means – business to business
14. Database marketing is direct form of marketing.
15. A Buyers Market means supply exceeds demands
16. Niche market means a specified market for the target group.
17. HNI marketing means High Networth Individual.
18. Relationship marketing is useful for cross selling of products.
19. Good public relations indicate
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Improved marketing skills
Improved brand image
Improved customer service
20. Marketing functions includes
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Designing new products
Advertisements
Publicity
After sales service
21. Effective selling skills depends on
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Effective lead generation
Sales call planning
Territory allocation
Effective communication skills
22. Marketing channels mean
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Delivery period
Delivery outlets
Delivery time
Delivery place
23. Marketing information means
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Knowledge level of marketing staffs
Information about marketing staff
Information regarding share market
Knowledge of related markets
24. A DSA means Direct Selling Agent.
25. Service marketing resorted to in Insurance companies and banks.
26. Service marketing is same as
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Internet marketing
Telemarketing
Internal marketing
Relationship marketing
27. Market segmentation helps to determine target groups.
28. The seven P’s of marketing
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Product
Price
Place
Promoting
Process
People
Physical Evidence
29. SWOT – Strengths Weakness Opportunities Threats.
30. Standard marketing practices include lowering the selling price.
31. USP of a product means Unique Selling Proposition.
“Rosser Reeves” coined the term USP.
32. MBO means Management by Objectives (“Peter Drucker”)
33. AIDA – Attention Interest Desire Action
34. BTL – Below the line
35. Right-time marketing is an approach to marketing which selects an appropriate time and place for
the delivery of a marketing message.
36. A group of related products manufactured by a single company is called product line.
37. MDSS – Marketing Decision Support System.
38. Target group for the marketing of Internet Banking – All the computer educated customers.
39. Innovation means new ideas and product designing.
40. Service after sale is not the function of marketing staff.
41. A good seller should have the following quality/qualities
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Devotion to the work
Sympathy
Submissive
42. Planned cost service means – additional profit on same cost.
43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.
44. The aim of successful marketing is to increase the outlet of the seller.
45. Low end market means a market for lower price products.
46. The strategy used to charge different prices for the same product is called price discrimination.
47. The system designed to support marketing decision making is – marketing information system.
48. Conversion in marketing means converting suspect into prospect.
49. MC means – Marginal Cost.
50. Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is
an extreme form of database marketing. Personalization tries to make a unique product offered for each
customer.
Marketing Notes for SBI Associates PO - 2014
Dear readers, since Marketing is a major portion of SBI Exams, so here we are presenting you some
quick notes on Marketing. Hope they prove to be useful in the upcoming exam.
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Market: It is a physical place or an environment where sellers and buyers meet together to
exchange goods and services.
Marketing: It is the sum total of all activities that are related to the free flow of goods from the
producer to the customer. Getting the right goods & services, to the right people, at the right
place, at the right time and at the right price.
Marketing Management: It is the art and science of choosing target markets and getting,
keeping and growing customers through creating, delivering and communicating superior
customer value.
Market Research: It is a process of collection and analyzing information regarding customer
needs and buying habits, the nature of competition in the market, prevailing prices, distribution
network, effectiveness of advertising media etc for arriving at a decision.
Relationship Marketing: It is basically building mutually satisfying long term relationships with
key parties like customers, suppliers, distributors and other marketing partners in order to earn
and retain their business.
Direct Marketing: It consists of a manufacturer selling directly to the final customer. It is also
called zero level channel. The major examples are door-to-door sales, telemarketing, Internet
selling etc.
Packaging: It involves putting the goods in attractive packets according to the convenience of
consumers. Well designed packages can build brand equity and drive sales. The package is the
buyer's first encounter with the product and is capable of turning the buyer on or off.
Personal Selling: It is a part of promotional activity. It involves communicating directly with the
target audience through paid personnel of the company or its agents for making sales.
SWOT Analysis:
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PEST Analysis:
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Marketing Mix (4P's):
Product, Price, Place, Promotion
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Viral Marketing: Marketing by the word of mouth having a high pass route from person to person
is called viral marketing. It can create a splash in the market place to showcase a brand and its
noteworthy features.
Product Policy: It is concerned with defining the type, volume and timing of the products a
company offer for sale.
Rights of consumers: Right to safety, Right to be informed, Right to choose, Right to be heard
Right to seek redressal, Right to consumer education.
Cross Selling: An exposure to various other unutilized services of the bank to a customer is
called cross selling. It also includes identifying customer needs, matching the products to
customer needs, convincing the customers of product benefits & responding to questions and
objections of customers.
SME's: It stands for Small & Medium Enterprises.
Market Expansion: It is growth in sales through existing and new products by adopting
competitive strategies. It includes expanding the total market, defending market share, expanding
market share etc.
Product Diversification: It refers to manufacturing or distributing more than one product by the
producer or dealer.
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Marketing Plan: It is a written document that summarizes what the marketer has learned about
the market place and indicates how the firm plans to reach its marketing objectives. It is the one
of the most important outputs of the marketing process.
Green Marketing: It is a new environment friendly marketing technique.
Product Elimination: It is a process of removing product from the product line (it is a group of
products that are closely related to each other).
Drip Marketing: The method of sending promotional items to clients is called drip marketing.
Selling: It is confined to persuasion of consumers to buy firm's goods and services. It involves
the transfer of ownership of goods to create possession utility.
Bench Marketing: A comparison of the business processes with competitors and improving
prevailing ones is called bench marketing.
Qualities of a good seller: Devotion to the work, Submissive, Sympathy, Active mind set,
Communication skill, Creativity, Motivation.
Prospect: A 'likely' interested customer of the bank is termed as a prospect.
Customer Relationship Management (CRM): It allows the company to discover whom its
customers are, how they behave and what they need or want. It also enables the company to
respond appropriately, coherently and quickly to different customer opportunities.
Call: In marketing, calling the prospective customer is known as a call.
Sales Forecasting: It is the expected level of company's sales based on a chosen marketing
plan an assumed marketing environment. It involves sales planning, sales pricing, distribution
channels, consumer tastes etc.
Motivation: It refers to inspiring one self and others to perform better.
Branding: The essence of a product, its quality and competitiveness displayed in the form of
letters, symbols and colours is known as branding.
Sales Forecasting: The method of estimating volume of sales that a company can expect to
attain within a planned period is called sales forecasting.
Marketing for Growth:
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Advertising: Any paid form of non-personal presentation and promotion of ideas, goods or services by an
identified sponsor.
Segmentation: The process of dividing a market into a number of sub markets is known as market
segmentation.
Positioning: The development of marketing mix to influence a customer's perception of a brand is called
positioning.
Consumer Behaviour: A consumer's buying behaviour is influenced by cultural, social, personal and
psychological factors.
Promotion: When a marketer persuades a person or group of prospective buyers, the communication is
termed as promotion.
Product Life Cycle (PLC): It is the life period of product in the market. The different stages includes
Introduction, Growth, Maturity, Decline.
Bancassurance: Bancassurance simply means selling of insurance products by banks. In this arrangement,
insurance companies and banks undergo a tie-up, thereby allowing banks to sell the insurance products to
its customers.
Consumer Goods: Goods meant for personal consumption by the households or ultimate consumers are
called consumer goods. It includes items like groceries, cloths etc.
Industrial Goods: Goods meant for consumption as use as inputs in production of other products
orprovision of some service are termed as industrial goods.
Demarketing: Marketing aimed at limiting market growth; for example, some governments practice
demarketing to conserve natural resources, and organizations use a demarketing approach when there is so
much demand that that are unable to serve the needs of all potential customers adequately.
SBI Associates PO - Marketing Notes - V
Hello Readers,
Here, we are presenting you the "Notes on Marketing" for SBI Associates 2014. Hope you like the post!!!
What is Demarketing?
Demarketing is a type of marketing which discourages certain customers on a temporary or a permanent
basis. This marketing is mainly applied on such products which are either harmful or very rare. Example:
Tobacco, petroleum products, water, electricity etc.
This marketing process is generally supported by government or international organization with a sole
aim of humankind welfare. It is also done for the sake of conservation of resources, controlling inflation,
eliminating the factor of over competition and over demand.
This technique is applied by following methods:
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Bringing substitute
Suppress demand
Increase the cost of the product itself manifold
Through government legislation
What is Remarketing?
Remarketing is a marketing process by which the demand of such product is renewed which has
witnessed declining trend of demand. It is done by spreading awareness in general, introducing new and
interesting use of the existing product, resale of second hand well fabricated products.
This concept of marketing is opposite to the Demarketing concept.
What is Synchro Marketing?
Synchro Marketing is marketing process which solves the problem of irregular demand pattern of a
product. For example a Beach side hotel is overcrowded during evening time, whereas it is almost like
desert during morning hours. A cotton shop is crowded during summer season whereas during winter it is
not.So, Synchro Marketing finds a way to solve the problem of inconsistent demand pattern by the
following methods:
(a) Keeping high price during season
(b) Offers lucrative options during offseason
(c) Using the stores with many varieties of item
(d) Promotion and incentives
What is differentiated marketing?
This is a type of marketing in which customers are divided into groups on the basis of some common
characteristics like religion, income, age, sex, caste, education etc. Thus the customer base is
segmented. This is why this marketing is also known as market segmentation. This technique is customer
oriented with higher customer satisfaction and profits.
It has following advantages:
(a) Increased sales and profits
(b) Large number of customers from all segments
(c) Quality products manufacturing can be accurate
(d) Customer oriented
It has following disadvantages:
(a) Chances of cost rise due to small quantity manufacturing. So, it is opposite to mass
marketing.
(b) Huge amount of work for R & D for customer segmentation.
(c) Wastage of money for separate advertisements for different segments
What is market segmentation?
It is a marketing strategy which involves the following criteria:
(a) Divides the target consumer/market as per their common want/need/relevant goods.
(b) It is internally homogenous and externally heterogeneous.
(c) Cost effective
(d) Profit maximization
(e) Responsiveness
(f) Sustainable
(g) Measurable
(h) Needs can be satisfied by particular product category
So, through this strategy, within a market, a market segment is created which is a subgroup of people or
organization. Sharing one or more characteristics that cause them to have similar needs. So, this strategy
is a process of enabling the marketer to tailor marketing mixes to meet the need of one or more specific
segments.
It has following advantages:
(a) It helps decision makers to more accurately define marketing objectives and better allotment of
resources.
(b) Performance evaluation is also more precise.
(c) Better marketing results.
What is undifferentiated marketing?
It is just opposite to differentiated marketing and similar to mass marketing. Under this technique
company identifies the entire consumers as one with common head. This strategy does not consider
segmented demand pattern. It involves same product, same brand, same price, same marketing
program, same advertising media with mass production and distribution.
It has following advantages:
(a) Large scale production is possible.
(b) Cheap products
(c) One type of advertisement, so, less expense
(d) One marketing mix
(e) Single brand name
It has following disadvantages:
(a) It is product oriented rather than consumer oriented.
(b) Reduces profits due to product competition.