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17 - targeted • Product customization • Pricing...

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Business 3/17 Probably on test---- Bear Stearns Fortune “most admired” securities firm o Trouble No market for its risky investments Value of securities of bonds is decreasing Facing possible bankruptcy and liquidation o Value of investment in BSC March 3 rd = $1,000,000 Today = $52,000 o “Saved” by Jp Morgan chase $2.00 shared offer yesterday backed by the fed o Lessons Diversify Common stock investor risk The Marketing Function- Definition of marketing- Is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The marketing mix- product, price, promotion, Product Environmental Forces Legal Political Development Status Social/cultural Technology Media infringement Competition Target Marketing- all components of the marketing mix are interrelated and can be
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Unformatted text preview: targeted • Product- customization • Pricing- volume/repeat • Placement- channel • Promotion- media Identifying tagert markets- how to offer which product to which market Market segmentation does this • Demographics • Psychographics • Geography • Purchase history • Lifetime value – 80/20 rule – you get 80 percent of your revenue from 20 percent of your customer base. • Commercial/Residential Targets can be narrow or broad • Broad-Coke/Pepsi • McDonalds • Narrow- Audi 50,000 mile service • Boulder bolder 1-1- trying to focus on your individual needs from what you just purchased • Amazon Many factors influence the products consumer buy: • Family history • Proximity • Timing • Risk allocation • Differentiation • Status • Brand • Economics...
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