intro to marketing-pdf

intro to marketing-pdf - Marketing Defined Activities that...

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Unformatted text preview: Marketing Defined Activities that are designed to meet the needs and wants of consumers. Goal is to achieve customer satisfaction. Why do businesses what to do that? Micro vs. Macro Micro-marketing activities done by individual firms Macro-marketing as a social process focusing on the economic welfare of society as a whole Which definition do you think is correct? Are they both correct? The Changing Role of Marketing Five Eras of Marketing Simple trade era—sell surplus Production era– increase supply Sales era– beat competition Marketing department era– coordinate and control Marketing company era– long run customer satisfaction Marketing and the Non-Profit Only have started thinking about marketing in the last 30 years Support is not usually from people who receive the benefits Use different measures of success or profit May not be set up for marketing Social Responsibility The firm’s obligation to increase its positive effects on society while decreasing its negative effects. Can be a balancing act between acting socially responsible and making a profit. Who determines what goods or products are ‘harmful’ to the consumers? Think about fatty foods or alcohol or even bicycles The Marketing Mix Elements that the business can control directly Does not include customers The customer is the driving force behind the marketing mix The marketing mix C The 4 Ps of the marketing mix Marketing Strategy Planning S.W.O.T. Analysis Strengths Weaknesses Opportunities Threats Opportunity Types Market Penetration Try to increase sales of firm’s product in current markets Market Development Try to increase sales by introducing present products into new markets Product Development Offering new or improved products in current markets Diversification Moving totally new products into new markets What is a market? A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services– or ways of satisfying the needs. Market Segmentation Market Segment— a relatively homogeneous group of customers who will respond to a marketing mix in a similar way Two-steps Naming broad product markets Segmenting these broad markets into select target markets in order to develop suitable target markets Segmenting Internationally Over 228 nations, each with its own:...
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This note was uploaded on 03/25/2011 for the course MKT 359 taught by Professor Pope during the Fall '11 term at Grand Valley State.

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intro to marketing-pdf - Marketing Defined Activities that...

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