DECA PMK

Marketing

Communicating, creating, and delivering value

Value (equation)

Benefits/cost

What is value measured by?

Utility

Utility

How well a customer can use a product

4 Types of Benefits

Form, time, place, posession

Benefit: Form

Ability of use

Benefit: Time

Timelines of purchase

Benefit: Place

Convenience of purchase location

Benefit: Posession

Sentiment of ownership

Post Purchase Evaluation

Ensuring the benefit of the customer after a purchase

Data Warehousing

Technology for developing customer retention and relationships

Market Segmentation

Dividing a market of potential customers into segments based characteristics

Corporate Culture

Shared attitudes of members of a corporation

Marketing Mix

Product, Price, Place, Promotion

Promotional Mix

Advertising, publicity, sales promotion, direct marketing, personal selling.

PPE (Post Purchase Evaluation)

A customer evaluates if they are satisfied after making a purchase

Purchase Stage 1

A customers recognizes a need through advertising/publicity

Purchase Stage 2

A customer seeks information through advertising/personal selling

Purchase Stage 3

A customer evaluates alternatives through personal selling

Purchase Stage 4

A customer makes a purchase decision through sales promotion/personal selling

Purchase Stage 5

A customer makes a PPE through personal selling