Customer Relationship Management
BMKT 3331 Study Guide, chapters 1-4
Know the definitions, be able to differentiate among concepts and terms. Associate terms with examples. Don’t confuse ‘street language’ with appropriate marketing terminology. Read all chapters thoroughly.
Chapter 1
Marketing definition and its focus; read text material
Target market
Exchange concept
Marketing concept – what does it mean?
Marketing strategy
Product, price, promotion and distribution variables – the marketing mix; know all
aspects of each
Market opportunity
Marketing environment definition; know the six components well
Customer relationship management
Marketing management
Effectiveness and efficiency
What is customer value?
Relationship marketing
Chapter 2
The Strategic Planning Process – understand the sequence of the process
Mission statement
Marketing strategy
Market opportunity
Marketing plan definition; purposes of a marketing plan
Core competencies
Competitive advantage
SWOT analysis – know and give examples for strengths, weaknesses, opportunities and
threats
Corporate strategy
Strategic business unit and all aspects of this model
What is a market?
Boston Consulting Group matrix and its four components
Competitive Growth Strategies – know definitions and develop examples for all four
quadrants
Market share
Customer Relationship Management definition
Sustainable competitive advantage
First-mover and late-mover advantage
Chapter 3
Environmental scanning and analysis
Proactive and reactive responses
Know PEST, C, L/R aspects of the external environment
Types of competition
Know the four economic cycles or forces, e.g., prosperity, recession, etc., their
characteristics, and the marketing strategies for each
Income definition, disposable and discretionary
Willingness to spend
Major legislation: Sherman Antitrust Act
Procompetitive legislation
Chapter 4
Social responsibility
Economic, legal, ethical and philanthropic levels of social responsibility
Marketing ethics
Opportunity
Cause related marketing
Green marketing
Ethical issue; ethical issues in product, promotion, pricing and distribution
What are examples of ethical issues in the areas of product, price, promotion, and
distribution?
Three factors that influence ethical decision making. Understand principles
that affect behavior in the workplace
Corporate culture
The effect of co-workers on the ethical decision-making process
How can an organization improve ethical behavior?
Codes of conduct
