Midterm 1 - Midterm 1 Ch. 2 Marketing management...

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Midterm 1 Ch. 2 Marketing management process- process of planning marketing activities, directing the implementation of the plans, and controlling these plans. Strategic planning- managerial process of developing and maintating match between an orgs resources and its market opportunities. Marketing strategy -specifies a target market and related marketing mix. Target market- homogenous group of customers to whom a company wishes to appeal Marketing mix- the controllable variables the company puts together to satisfy this target group. Target marketing- marketing mix is tailored to fit some specific target customers Mass marketing- aims at everyone with the same marketing mix, assumes everyone is the same Personal Selling- involves direct spoken communication between sellers and potential customers. Customer service- personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase is often a key to building repeat business Mass selling- communicating with large numbers of customers at the same time Advertising- paid form of nonpersonal presentation of goods, ideas, or services by an identified sponsor Publicity- any unpaid form of nonpersonal presentation of ideas, goods, or services Sales promotion- promotion activities that stimulate interest, trial, or purchase by final customers or others in the channel. Marketing plan- written statement of a marketing strategy and the time-related details of carrying out the strategy. Implementation-
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This note was uploaded on 12/31/2010 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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Midterm 1 - Midterm 1 Ch. 2 Marketing management...

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