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marketing class midterm review

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or modified products to existing segment), or diversification (brand new operation) 3) CHAPTER 3 – analyzing the market environment a. All the different environments (macro, micro, demographic, economic, natural, etc.) b. Marketing environment: all people and the forces that affect management’s ability to build successful relationships with customers c. Microenvironment : actors close to the company that affect its ability to serve its customers [us, business, gov’t, int’l], company [top management, finance, purchasing], suppliers [resources to produce g/s], marketing intermediaries [help company promote, sell and distribute products – resellers, marketing service agencies, financial intermediaries] competitors, publics [any group that has actual or potential interest] d. Macroenvironment : demographic (race, gender, etc.), economic, natural (resources), technological (impacting business), political (laws), cultural 4) CHAPTER 4 – managing marketing information to gain customer insight a. Customer insights are: fresh and deep to tend to customers wants and needs / difficult to obtain
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b. c. Etc. 5) CHAPTER 5 – consumer markets and consumer buyer behavior a. Model of consumer behavior: you have a pattern tracked through cards b. The environment (marketing stimuli: 4P’s, other) buyer’s black box (characteristics and decision process)
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