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CLEP Principles of Marketing Study Notes

Sales analysis uses sales figures to evaluate a firms

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. Sales analysis uses sales figures to evaluate a firm's current performance . Often performed according to product group or specific product item, and for each sales territory, individual salesmen, etc.. 2 strategies for evaluating sales performance: 1. Sales v. Goals is a form of sales analysis which determines the firm's level of success against its own standards . Involves comparing sales results to sales goals. 2. Market Share Analysis --comparing the strength of a firm to its competitors in the market. International Marketing (aka: Global Marketing) : Marketing carried out by companies overseas or across national borderlines This strategy was extension of techniques used in home country of a firm E-commerce (aka: e-comm) - buying & selling of product/services over electronic sytems, such as internet. Electronic commerce is a sales aspect of e-business. E-commerce can be divided into: E-tailing (aka: virtual storefronts) – on websites with online catalogs – gather in ‘virtual mall’ Gathering/use of demographic data on web Electronic Data Interchange (EDI) – business to business exchange of data Strategic Alliance – relationship between 2 or more parties to pursue agreed upon goals or meet critical business needs while remaining independent organizations. Partners provide products, distribution channels, expertise, etc. Process Includes: 1. Strategic Development – align alliance objectives & development of resource strategies 2. Partner Asset – analyzing partners’ strengths/weaknesses 3. Contract Negotiation – determining all parties have realistic objectives, etc. 4. Alliance Operation – addressing senior mgt commitment – linking budgets/resources 5. Alliance Termination – winding down alliance 4 Types of Strategic Alliance: 1. Joint Venture – 2 or more firms create legally independent company to share resources & have competitive advantage. 2. Equity Strategic Alliance – 2 or more firms own different percentage’s of company they’ve formed by combining resources to have competitive advantage.
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3. Non-equity Strategic Alliance – 2 or more firms develop contractual-relationship to share unique resources to create competitive advantage. 4. Global Strategic Alliance – working partnerships between companies (often more than 2) across national boundaries & increasingly across industries (i.e., company & government). B2B (Business to Business) – commerce transactions between business (i.e., manufacturer to wholesaler or wholesaler to retailer) . Volume of B2B transactions is much higher than B2C due to many transactions involving raw materials. Communication is among business employees. B2C (Business to Consumer) – only 1 transaction – sale to consumer. Communication is w/ consumers. Micro-Macro Dilemma – what is good for some prodcuers may not be good for society as a whole.
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