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Cheatsheet midterm 2

Cheatsheet midterm 2 - Marketing mix product creating value...

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Marketing mix- product creating value, price capturing value, place delivering, promotion communicating CH 2: Marketing plan: Marketing Strategy identifies, target market, related marketing mix, and plan for sustainable competitive advantage. Creating Customer value: Costumer excellence retaining loyal costumers and costumer service, operational supply chain management & efficient ops, product excellence, locational. Marketing Plan 1 define business mission, 2 SWOT tool situation analysis – Internal: strengths, weaknesses – external: opportunities what is happening and strategy is what can they do about it, threats. 3 identifying opportunities STP – segmentation, targeting, positioning. 4 implement marketing mix. Pricing: cost based, competitor based, value based. 5-performance matrix- BCG – market growth rate and market share. Stars, question mark, cash cows, dogs. Growth Strategies: penetration focus market on existing costumers, product development new products, market development same marketing, new area, diversification new product and market. CH 8: STP Analysis: Strategy & objectives Segmentation strategy: Undifferentiated – mass marketing, Differentiated separate into severalt segments, Gad – banana rep, gap, old navy. Concentrated concentrate all energy on one segment. Micromarketing creating a product for the consumer, buid a bear. Mass costumization – providing one to one marketing to masses. Describe Segments Geographic Demographic, psychographic, self values, goals for life not just day. Self concept – the image of oneself Lifestyle – how we live our lives to achieve goals. VALS is a tool, innovators achievers thinkers etc.
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