Chapter 2 notes

Chapter 2 notes - Chapter 2 MANAGEMENT JOB I N MARKET ING...

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Unformatted text preview: Chapter 2 MANAGEMENT JOB I N MARKET ING Marketing management process: planning process of a. Planning marketing activities a. Set objectives b. Evaluate opportunities c. Create marketing strategies d. Prepare marketing plans e. Develop marketing program b. Directing the implementation of the plans c. Controlling these plans a. Measure results b. Evaluate progress Srategic (management) planning: managerial process of development and maintaining a match between an organizations resources and its market opportunities.-Marketing plan often sets the tone and direction or the whole company WHAT IS A MARKET ING STRATEGY? Marketing strategy : specifies a target market and a related marketing mix. a. Target market: a fairly similar group of customers to whom a company wishes to appeal b. marketing mix: controllable variables the company puts together to satisfy this target group. - typical marketing mix includes some product, offered at a price with some promotion to tell potential customers about the product and a way to reach the customers place. SELECT ING A MARKET OR IENTED STRATEGY IS TARGET MARKET I NG Target Marketing: a marketing mix is tailored to fit some specific target customers a. is not limited to small market segments only to similar onesa....
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Chapter 2 notes - Chapter 2 MANAGEMENT JOB I N MARKET ING...

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