Marketing CH2 - MarketingCH2

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Marketing CH2 05:26 Marketing Management Process : planning, implementing, and controlling Strategic Planning —the managerial process of developing and maintaining a  match between an organization’s resources and its market opportunities  Marketing Strategy Planning— finding  attractive opportunities  and developing  profitable marketing strategies A marketing strategy  specifies  a target market  and a related  marketing mix Target Market —a fairly homogeneous(similar) 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 —a marketing mix is tailored to fit some specific target  customers. Target marketing is not limited to small market segments—only to fairly  homogeneous one Mass Marketing —a typical production-oriented approach—vaguely aims at  “everyone” with the same marketing mix. Mass Marketing is the typical  production-orientated approach When a firm carefully targets its marketing mix, it is less likely to face direct  competitors Consumer is not part of the marketing mix A channel of distribution 
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This note was uploaded on 05/09/2011 for the course BUSI 406 taught by Professor Williamperreault during the Spring '11 term at University of North Carolina School of the Arts.

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Marketing CH2 - MarketingCH2

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