Gr 12 Marketing (Part 1)

Marketing is part of the overall business strategy.

Strategic planning involves translating the mission into a vision statement

A mission statement describes what needs to be done today.

The (a)   is known as the perception of the business

When a new customer walks into the business, the probability of making a sale is 60 - 70%

A 10% increase in customer retention has the same effect as decreasing operating costs by 2%.

It costs 6-7 times more to get a new customer than to keep an existing one.

5% of customers are willing to pay extra to guarantee a better service.

To formulate a Marketing Strategy, a ___-step process has to be followed.

In marketing, UPS stands for...