TARGET MARKET AT PROFIT MARKETING IDENTIFIES UNFULFILLED NEEDS AND DESIRES IT

Target market at profit marketing identifies

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TARGET MARKET AT PROFIT . MARKETING IDENTIFIES UNFULFILLED NEEDS AND DESIRES. IT DEFINES, MEASURES AND QUANTIFIES THE SIZE OF THE IDENTIFIED MARKET AND THE PROFIT POTENTIAL. IT PINPOINTS WHICH SEGMENTS THE COMPANY IS CAPABLE OF SERVING BEST AND IT DESIGNS AND PROMOTES THE APPROPRIATE PRODUCTS AND SERVICES.”
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HOLISTIC MARKETING CONCEPT HOLISTIC MARKETING IS A STRATEGY USED TO COVER THE COMPANY MARKETING EFFORT AS A WHOLE WHICH IN TURN CONTRIBUTE TO THE DEVELOPMENT OF AN OVERALL OR HOLISTIC MARKETING PLAN. 1. RELATIONSHIP MARKETING 2. INTEGRATED MARKETING 3. INTERNAL MARKETING 4. SOCIETAL MARKETING: “THE IDEA THAT A COMPANY’S MARKETING DECISIONS SHOULD CONSIDER CONSUMERS’ WANTS, THE COMPANY’S REQUIREMENTS, CONSUMERS’ LONG TERM INTERESTS, AND SOCIETY’S LONG TERM INTERESTS” (KOTLER ET AL, 2013, P11)
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MARKETING MANAGEMENT ORIENTATIONS PRODUCTION ORIENTATION: CONSUMERS WANT PRODUCTS THAT ARE AVAILABLE AND HIGHLY AFFORDABLE PRODUCT ORIENTATION: CONSUMERS WANT PRODUCTS THAT OFFER THE MOST QUALITY, PERFORMANCE AND FEATURES SALES ORIENTATION: CONSUMERS WILL NOT BUY ENOUGH PRODUCTS SO THE BUSINESS MUST ENGAGE IN LARGE SCALE SELLING AND PROMOTION MARKETING ORIENTATION: BUSINESS SUCCESS DEPENDS ON KNOWING THE NEEDS AND WANTS OF THE CUSTOMER BETTER THAN COMPETITORS SOCIETAL ORIENTATION: BUSINESS SHOULD CONSIDER CONSUMER DEMANDS, COMPANY REQUIREMENTS AND CONSUMERS’ AND SOCIETY'S’ LONG TERM INTERESTS Kotler et Al, 2013
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TYPES OF MARKETS
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  • Fall '16
  • Marketing, Chartered Institute of Marketing

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