Book Notes Chapter 2

Book Notes Chapter 2 - Book notes Chapter 2 The Management...

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Book notes Chapter 2 The Management Job in Marketing o The marketing management process Planning marketing activities Directing the implementation of the plans Controlling these plans o Managers should seek new opportunities- with a world with constantly changing technology and desires; markets have to move with consumer needs. Take board games vs. video games as a prime example. o Strategic management planning concerns the whole firm- the managerial process of developing and maintaining a match between and organization’s resources and its market opportunities. What is marketing strategy- specifies a target market and related marketing mix. It is a big picture of what a firm will do in some market. o Target Market- a fairly similar group of customers who the company wants to appeal to. o Marketing Mix- the controllable variables the company puts together to satisfy this target group. Selecting a market-oriented strategy is target marketing o Target Marketing is not mass marketing Mass marketing vaguely aims at everyone to be a potential customer o
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Book Notes Chapter 2 - Book notes Chapter 2 The Management...

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