FINAL REVIEW - FINAL REVIEW MKTG Chapter 1 Marketing mix...

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FINAL REVIEW MKTG Chapter 1: Marketing mix – product, place, promotion, price Market orientation vs. Sales orientation – Market orientation: marketing concept - social and economic justification for an organization’s existence is the satisfaction of customer wants and needs - assume the sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product Sales orientation: based on the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits Customer value – relationship between benefits and the sacrifice necessary to obtain those benefits Social marketing – acknowledges that sine products that customers want may not really be in their best interests or the best interests of society as a whole MKTG Chapter 2: Mission statement – answers the question “What business are we in?” - Based on careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions - Affects the firm’s long-run resource allocation, profitability and survival **Strategic marketing strategies – What : Strategic planning Why : long-term profitability and growth How : write a marketing plan Competitive advantage – set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition Cost: low-cost competitor in an industry while maintaining satisfactory profit margins Product/service differentiation: a firm provides something that is unique and valuable to buyers beyond simply offering a lower price that that of the competition Niche: target and effectively serve a single segment of the market Sustainable: cannot be copied by the competition SWOT analysis – situation analysis analyzing strengths, weaknesses, opportunities, and threats for a company in an industry MKTG Chapter 3: Social responsibility – concern for society’s welfare Greenwashing – misleading marketing about the environmental benefits of a product - hidden trade-off
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- no proof - lesser of two evils - vagueness - irrelevance - fibbing Green marketing – development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment Sustainability – socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits at the same time - Acting with long-term consequences in mind and managing the business in a way that can be maintained indefinitely MKTG Chapter 4: Environmental factors – -
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  • Spring '13
  • Collins
  • Marketing, MKTG Chapter

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