Marketing - Mass Marketing Developing products for large...

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Marketing
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Marketing The process of planning and executing the conception, pricing, promotion, and distribution of goods and services to facilitate exchanges that satisfy individual and org objectives.
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Customer Relationship Management Learn as much as possible about customers and satisfy (or exceed) their expectations w/ goods and services over time.
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4 P’s of marketing (marketing mix) Product Price Place Promotion
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Each of these 4 steps depends on: Information; ie marketing research
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Marketing research Define the question (problem or opportunity) and determine the present situation Collect data Analyze the data Choose the best solution
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Environmental scanning Identifying the factors that can affect marketing success
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These factors include Global factors (ie growth of internet) Tech factors (consumer database) Socio-cultural factors (population growth) Competitive factors (amazon’s effect on booksellers) Economic factors (macro economics)
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Niche marketing Finding small but profitable market segments and designing the right product for them
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Unformatted text preview: Mass Marketing Developing products for large groups Relationship marketing Marketing strategy w the goal of keeping individual customers over time by offering products that exactly meet their wants Consumer Decision-Making Process Problem recognition Info search Alternative evaluation Purchase decision Post-purchase evaluation What is the single most effective form of marketing? Word of mouth Law of the few Mavens Connectors Salesmen Mavens Information spets want to tell you about ideas want to do this b/c they are passionate about these things want to educate and help Connectors Have a foot in many different worlds Show that weak ties are more important than strong ties hubs that everyone else is linked from Salesperson persuades us when we are unconvinced uses non-verbal cues simple physical movements draw others into your own rhythms picks up on the little things (details) that are significant to the buyer...
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Marketing - Mass Marketing Developing products for large...

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