Marketing's Top Ten Acronyms 71101., c Below is a random and scattered list of concepts. Your task is to organize andatenof themin reverse order — yes, Prof. A is a fan of Letterman) so that your...

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Marketing's Top Ten Acronyms
71101., c
Below is a random and scattered list of concepts. Your task is to organize andatenof themin reverse order — yes, Prof. A is a fan of Letterman) so that your number one is the concept/idea/issue that you feel is most important. Most important to business? Sure. Most important to the field of marketing? Sure. Most important to the world? To humankind? Yes. In other words, you may use any criteria you wish. It will probably take a short paragraph to explain each concept and tell me why you placed it in the position you did. Also, you must have at least one original concept in your list. You can just make up an acronym? Yes, it's marketing, you can do whatever you want! More than one? Sure. Be as creative as you like. This is marketing — if you are not having fun, you are not doing it right!
10
BE -(br d equity) PD new oduct eel, pment) CLV (customer lifetime value) The/nlue Equation V B/P ACVOT) break even) PA (pion er advantage) CERTS (envi onmental analysis') 4-0-I\ - The 413%s C WOT \..._ Site PL (p t lifecycle) STP (segmentation, targeting, positioning) Pr motional ix d personality) VAS and lifestyle segmentation) Th 5 s Cu t's, co., co etitors, coll grators, context (cultural & industrial) relationship CRM ,(custSmer mgmnt/mktg)
Answered Same DayDec 20, 2021

Solution

Robert answered on Dec 20 2021
3 Votes
1. SWOT is a strategic planning tool which is used to identify strength, weakness,
opportunity and threat for a product, organization or a business idea. Marketing is an
important concept, and firms cannot be successful if it does not know about its
strengths and what it has to offers to its customers. SWOT helps a company is
determining its position in an industry and the kind of marketing efforts it will need
2. The 5 Cs: Company, Collaborators, Customers, Competitors, and Context
(cultural and industrial) also called the situation analysis, involves studying the
cu
ent market or industry in which the company operates. This can be further used
for segmentation of the market. Once the company analyzes its strengths, weaknesses,
threats and opportunity available, it needs to define and understand the dynamics of
the industry it operates in
3. Promotional Mix can be defined as a combination of various promotional methods
used for a single product or a family of products. Various elements of promotional
mix are: Advertising, personal selling, sales promotion, public relations and direct
marketing. Post establishing and understanding its market, Companies generally
determine the promotional methods to be used for marketing their products...
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