marketing - Principles of Marketing Judith Washburn Ph.D...

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Principles of Marketing Judith Washburn, Ph.D. © Ivy Software 2010
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TABLE OF CONTENTS TABLE OF CONTENTS PAGE Chapter One - . ....................................... Marketing Planning 1 Chapter Two - . .................... Understanding Buyer Behavior 14 Chapter Three - . ...Segmentation, Targeting and Positioning 32 Chapter Four - . .................. Product and Promotion Strategy 42 Chapter Five - . ................. Distribution and Pricing Strategy 66
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Chapter 1 Outline Marketing Planning Introduction Framework for Marketing Planning What is Marketing? Definition Marketing Management Philosophies The Marketing Concept Marketing and Its Environments Internal Environment External Environment The Marketing Process Situation Analysis Marketing Objectives Marketing Strategy Development Target Market Selection The Marketing Mix Marketing Strategy Implementation Evaluation and Control Marketing’s Global Environment Conclusion
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Introduction Consider how a typical business operates. I-Widgets produces electronic widgets with the intention of selling enough e-widgets to make a profit. If I-Widgets sells its e-widgets for more than it costs to produce them, I-Widgets makes a profit and remains in business for, at least, the immediate future. Recall the definition of profit: Revenue – Expenses = Profit . In essence, marketing is the business function that focuses on maximizing an organization’s ability to generate revenue. This explanation presents a very simple view of a complex process and this module discusses the marketing process in its most basic form. Figure 1 depicts a Framework for Marketing Planning that is the basis for this module. At the center of this framework is a circle that encompasses the customer . Chapter Two looks closely at customers, how we define them, and what motivates their behavior. The inside circle of the framework shows four important parts of the marketing process: product, distribution, promotion and price. These four parts are critical to marketing planning and are referred to throughout this text as the Marketing Mix and/or the 4 P’s . It is true that only three (i.e., product, promotion and price) of the four parts actually begin with the letter “P,” however to make the four parts memorable, marketers refer to distribution as place , thus the fourth “P.” Chapter One discusses the 4 P’s as representing a marketer’s internal environment , and Chapter Four zeros in on a discussion of strategies related to product and promotion while Chapter Five features price and place (distribution) strategies. Finally, the outermost circle highlights a marketing organization’s external environment , which Chapter One details. Without a doubt, the environment in which the marketing function in any organization
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marketing - Principles of Marketing Judith Washburn Ph.D...

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