Marketing Jan 14

Marketing Jan 14 - Marketing 1/14/10 The Marketing Process...

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Marketing 1/14/10 The Marketing Process 3 C’s Customer-understand needs and wants Company-small companies represent growth in economy o Understand who they are so they can know what they do well Competition-how to beat the person already in business o Price and strategies determine who comes in and who doesn’t o Knowing who your competitors or potential competitors are o Strategic job is better STP- anything can change at any time from company to customer Process of finding who to cater to. Who will want our product? How to we satisfy this group? Segmentation o Grouping of you customers o Example- bank grouping by net worth in bank o Targeting o Picking a group to focus on Positioning o Where you want each group 4P’s Product o Goods, services and ideas Price o What is exchanged for the product Place o Distribution o Branch/online channel/phone o Reverse logistics is having to have the product being returned (30% of products get returned) o Promotion The idea of the marketing Mix: “…. The set of processes or activity for creating, communicating, delivering, and exchanging offerings…” Marketing Mix is the 4Ps (the controllable factors for the marketing manager) Product (the goods, services, and ideas) Price (what is exchanged for the product) Place (where consumers find the product/distribution) Promotion (communication)
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Things we really can’t control like natural disasters, technology,etc. The American Marketing Association’s (AMA) 2007 definition:
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This note was uploaded on 02/02/2010 for the course BCOR 2400 taught by Professor Rexmoody during the Spring '08 term at Colorado.

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Marketing Jan 14 - Marketing 1/14/10 The Marketing Process...

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