Maketing_mk2_122l

Maketing_mk2_122l - Marketing 2 Professors Griner, Arnold,...

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Marketing 2 Professors Griner, Arnold, Dixon, Morrison, MK323 Faculty, et. al.
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What is marketing How do you identify target customers, figure out what to sell them, and connect to them at a profit? Target market: the customers the firm will pursue Marketing Mix: the “controllable variables” the company uses to pursue the target – the 4 Ps Product, Price, Promotion and Place
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Elements of the marketing mix that compose a cohesive marketing program Place Outlets Channels Coverage Transportation Stock level Place Outlets Channels Coverage Transportation Stock level Promotion Advertising Personal selling Sales promotion Publicity Promotion Advertising Personal selling Sales promotion Publicity Price List price Discounts Allowances Credit items Payment period Price List price Discounts Allowances Credit items Payment period Product Features Brand name Packaging Service Warranty Product Features Brand name Packaging Service Warranty Marketing manager Marketing manager Cohesive marketing mix Promotion Place Price Promotion Place Product
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Marketing is not. ... Just advertising. .... Just promotion. .... Just “market research”. ..... The “Marketing Concept”: when all parts of the firm work to satisfy customers at a profit 4
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Relation of Potential Target Market Dimensions to Marketing Strategy Decision Areas Behavioral needs, attitudes, and how present and potential goods and services fit into customers' consumption patterns…. Affects Product (features, packaging, product line assortment, branding) and Promotion (what potential customers need and want to know about the firm's offering, and what appeals should be used).
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Relation of Potential Target Market Dimensions to Marketing Strategy Decision Areas Urgency to get need satisfied and desire and willingness to seek information, compare, and shop… Affects Place (how directly products are distributed from producer to customer, how extensively they are made available, and the level of service needed) and Price (how much potential customers are willing to pay).
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Relation of Potential Target Market Dimensions to Marketing Strategy Decision Areas Geographic location and other demographic characteristics of potential customers… Affects Size of Target Markets (economic potential), Place (where products should be made available), and Promotion (where and to whom to target advertising and personal selling).
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Marketing Strategy Planning Place Promotion Price Product C Ta rgeting D i fe ren t ia ion P o s ing Customers Needs and Other Segmenting Dimensions Company Objectives And Resources Competitors Current and Prospective
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Before any work can be done on segmenting and targeting, a firm needs to understand the industry, its
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This note was uploaded on 02/06/2012 for the course SMG SM 122 taught by Professor Roberts during the Spring '09 term at BU.

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Maketing_mk2_122l - Marketing 2 Professors Griner, Arnold,...

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