Unit 8 MT219: Marketing 1 Even the largest companies rely on the concepts that are being taught in this marketing course. These marketing concepts you are learning and that companies really use have an immense potential to ensure that companies create value for their customers. Read what an Executive at IBM responded to an Interviewer from Kaplan. INTERVIEWER[on behalf of Kaplan]: Denise, as a market development executive [at IBM], can you tell us a bit more about how you analyze the market and how you target specific markets. SPEAKER: Absolutely. And this is really important. One of the things you'll learn when you take marketing classes, is how do you segment your market. Right, they're the four P's of marketing. Product, place, price, and promotion. And so, to start out, you don't want to target the entire market. Because your message gets diluted. So what you do is, you do research. In our case, we use US Census Bureau statistics on the number of businesses that are owned by Asians, blacks, Hispanics, Native Americans and women. Sometimes we will go out and get our own
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United States Census Bureau, United States Census, market development executive