EXAM 1 - CHAPTER1 INTRODUCTION INTRODUCTION Marketing Markets EnvironmentalForces MarketingMix MARKETING NEGOTIATEDEXCHANGE Original Seller In

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CHAPTER 1 INTRODUCTION
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INTRODUCTION Marketing Markets Intermediary Channels Environmental Forces Marketing Mix
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MARKETING Marketing is negotiated  exchange between buyers and  sellers that satisfies the wants  and needs of both parties.
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NEGOTIATED EXCHANGE Original          Intermediaries Final    Seller Buyer 
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MARKETS Markets - groups of buyers with  the ability to buy and willingness  to buy.
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INTERMEDIARY CHANNELS Intermediary channels are channels between the  original seller and the final buyer  Seller                   Intermediary                   Buyer Two Major Channel Functions Transactional functions Logistical functions
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ENVIRONMENTAL FORCES Environmental forces are uncontrollable external  forces that influence strategy in terms of opportunities and threats Major Environmental Forces Demographics Economics Political Cultural Natural Disasters
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MARKETING MIX The marketing mix is defined as the  controllable marketing decision variables.  Product/Service Pricing Distribution Promotion
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CHAPTER 2 CHANGES IN MARKETING
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CHANGES IN MARKETING Mass markets are breaking  up Adapting to change Changes affecting  marketing
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WHY MASS MARKETS ARE  BREAKING UP Demographic diversity Social/Cultural changes Creative destruction Technology explosion
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EXAMPLES OF MASS  MARKETS Post Office Public Utilities WD-40
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ADAPTING TO CHANGE Maximizing opportunities Minimizing threats Use creativity and innovation Address changing needs of  customers
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CHANGES AFFECTING  MARKETING Business Information Search Ads New Technologies
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BUSINESS INFORMATION Data Bases Supply Chain Information Internet Information
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SEARCH ADS Google-based No political or economical  boundaries Main-street media negative effect
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MAIN-STREET MEDIA  NEGATIVE EFFECT Newspapers Magazines Television
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NEW TECHNOLOGIES Energy Technology Nanotechnology GPS Systems Cloud Computing
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ENERGY TECHNOLOGY  EXAMPLES Space-based solar power Battery storage Bio fuels ARTICLE
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NANOTECH EXAMPLES Rice Developing new ideas Cancer treatments Nano computer 1M more powerful Purified drinking water Rice: remove arsenic
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GPS EXAMPLES Agriculture Trucking Conway: 350 trucks- shipment on time. Less if  late. Hiking
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Cloud Computing Switch from hardware to software ARTICLE
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JOHN DEERE’S TECHNOLOGY GPS system keeps cotton  harvesting machine on course in  the field RFID identifies each bale of cotton  harvested Microwave sensors measure the  proper flow
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Notes on Change
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CHAPTER 3 MARKETS
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Definition of Markets Consumer Market Segments Don’t cannibalize. Create different brands. Grey Markets
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This note was uploaded on 04/23/2010 for the course FINA 8645 taught by Professor Smith during the Spring '10 term at Rensselaer Polytechnic Institute.

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EXAM 1 - CHAPTER1 INTRODUCTION INTRODUCTION Marketing Markets EnvironmentalForces MarketingMix MARKETING NEGOTIATEDEXCHANGE Original Seller In

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