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Understanding the Marketplace.pdf - Study Guide Marketing...

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Study GuideMarketingReviewed ByStephanie Szymanski
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/Cengage-Advantage-Books-Foundations-of-the-Legal-Environment-of-Business-3rd-Edition-9781305117457-426/
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Chapter 4 / Exercise 2
Cengage Advantage Books: Foundations of the Legal Environment of Business
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About the ReviewerStephanie Szymanski received her BA in Literature fromWest Chester University and her MS in Library Science fromClarion University, and has acquired a decade of experiencewriting and editing materials. Her career path eventuallymade its way to Penn Foster, where she was Senior ContentManager in the Product Development department. She is cur-rently a freelance instructional designer and technical writerin Portland, OR..
C o n t e n t sC o n t e n t siiiINTRUCTIONS TO STUDENTS1LESSON ASSIGNMENTS7LESSON 1: ASSESSING THE MARKETPLACE9LESSON 2: UNDERSTANDING THE MARKETPLACE31LESSON 3: TARGETING THE MARKETPLACE45LESSON 4: VALUE CREATION53LESSON 5: VALUE CAPTURE65LESSON 6: VALUE DELIVERY75LESSON 7: VALUE COMMUNICATION85SELF-CHECK ANSWERS101
I n s t r u c t i o n sI n s t r u c t i o n s1INTRODUCTIONMarketing is fundamental to the success of any business.Many people think that marketing is the same as simplyadvertising or selling a product or service. That’s true, butonly to an extent. Marketing includes the elements of adver-tising and selling, but marketing has evolved into much morethan that.Your textbook—Marketing,Fifth Edition, by Grewal andLevy—defines marketing in broad terms that apply to allorganizations that offer goods or services to customers.Marketingis the process of planning and executing the con-ception, pricing, promotion, and distribution of ideas, goods,services, organizations, and events to create and maintainrelationships that satisfy individual and organizational objec-tives. You may not have realized that marketing involvesso many different activities. You also may not have realizedthat marketing is important to both profit and not-for-profitorganizations.Your course covers the principles of marketing, and you’llstudy these principles and learn how real companies applythem in their marketing plans. You’ll encounter interestingexamples of marketing strategies used by companies that pro-duce many of the products and services you use. You’ll alsolearn how marketing has changed over the years, always tak-ing advantage of new technologies.OBJECTIVESWhen you complete this course, you’ll be able tonDesign and develop a marketing plannOutline the implementation of the marketing mix as ameans to create customer valuenDescribe the 4E framework of social media marketingnIdentify the ethical values marketers should embraceand how ethics can be integrated into a firm’s market-ing strategy
Instructions to Students2nArticulate the steps in the consumer decision processand the factors that affect itnHighlight the similarities and differences between adomestic marketing strategy and a global marketingstrategynRecognize strategies associated with segmenting, tar-geting, and positioningnDifferentiate between primary and secondary dataand how they are used in marketingnIdentify the strategies concerning product, branding,and packaging decisionsn

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Term
Fall
Professor
NoProfessor
Tags
Marketing, American Marketing Association
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Cengage Advantage Books: Foundations of the Legal Environment of Business
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 2
Cengage Advantage Books: Foundations of the Legal Environment of Business
Jennings
Expert Verified

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