Marketing little m tactical marketing which serves

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Marketing (little m) Tactical marketing, which serves the firm and its stakeholders at a functional or operational level. Name and explain the 4 P’s of the marketing mix. Mid-1960s Product, Price, Place, Promotion Today: more sophisticated view of 4Ps Products are offerings; focus is on solutions Place is complex supply chains Price is viewed as value; Benefits/price U nderstand importance of marketing metrics Marketing is a fuzzy field If it can’t be measured, it can’t be managed Is marketing an expense or an investment? CEOs and stockholders expect marketing accountability Chapter 2 (Marketing Strategy, Planning and Competition): Define utility and the four types Utility the want satisfying power of a good or service Form Utility - created when the firm converts raw materials into finished products that are desired by the market. Time Utility - created by marketing Place Utility - created by marketing Ownership Utility - created by marketing *Created when products are available to customers at a convenient location Identify five primary activities in the value chain 1. Inbound Logistics 2. Operations 3. Outbound Logistics 4. Marketing and Sales 5. Service Understand objectives, external and internal environments, SWOT analysis Objectives Benchmark by which organizational performance is accessed External Environments Threat of New Entrants Rivalry among existing firms Threat of substitute products Bargaining Power of Buyers
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Internal Environments Firm Structure and Systems Firm Culture Firm Leadership Firm Resources SWOT Analysis Strengths, Weaknesses, Opportunities, and Threats Internal Strengths and Weaknesses External Opportunities and Threats Identify how manager can develop successful marketing plans 1. Perform Market Research 2. Establish Marketing Goals and Objectives 3. Develop Marketing Strategies 4. Create an Implementation Plan including Forecast, Budget, and Marketing Metrics 5. Develop Contingency Plans Chapter 3 (Marketing Information): Define marketing information systems and market research (MIS) is not a software package but a continuing process of identifying, collecting, analyzing, accumulating and dispensing critical information to marketing decision makers. Understand steps in the market research process. 1. Define the Research Problem 2. Establish the Research Design 3. Search Secondary Sources 4. Collect the Data 5. Analyze the Data 6. Report the Findings What are primary and secondary research, qualitative and quantitative research, and techniques to do this research? Data Collection Focus Group In-depth Interview Surveys Behavioral Data Observational Data Open-ended questions Closed-ended questions Chapter 4 (Business-to-Consumer Markets): Consider internal attributes (personal, psychological) and external factors (culture, situational, social) which influence consumer decision making. Why use these attributes when creating marketing programs?
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  • Spring '14
  • JamesE.Zemanek
  • Marketing, marketing and sales

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