Specialized products in limited markets that are not

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specialized products in limited markets that are not likely to grow quickly Market penetration strategies – growth strategies designed to increase sales of existing products to current customers, nonusers, and users of competitive brands in served markets Market development strategies – growth strategies that introduce existing products to new markets Product development strategies – growth strategies that focus on selling new products in served markets
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Diversification strategies – growth strategies that emphasize both new products and new markets Control – a process that entails measuring actual performance, comparing this performance to the established marketing objectives, and then making adjustments to the strategies or objectives on the basis of this analysis Return on marketing investment (ROMI) – quantifying just how an investment in marketing has an impact on the firm’s success, financially and otherwise Action plans – individual support plans included in a marketing plan that provide the guidance for implementation and control of the various marketing strategies within the plan. Action plans are sometimes referred to as “marketing programs” Marketing research – the process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness Syndicated research – research conducted by firms that collect data on a regular basis and sell the reports to multiple firms Custom research – research conducted for a single firm to provide specific information its managers need Popular culture – the music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market Myths – stories containing symbolic elements that express the shared emotions and ideals of a culture Product – a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process; a bundle of attributes including features, functions, benefits, and uses Consumer goods – the goods purchased by individual consumers for personal or family use Services – intangible products that are exchanged directly from the producer to the customer Business-to-business marketing – the marketing of those goods and services that business and organizational customers need to produce other goods and services, for resale or to support their operations Industrial goods – goods bought by individuals or organizations for further processing or use in doing business
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E-commerce – the buying or selling of goods and services electronically, usually over the Internet Not-for-profit organizations – organizations with charitable, educational, community, and other public service goals that buy goods and services to support their functions and to attract and serve their members Target market – the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts Value – the benefits a customer receives from buying a good or service
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  • Spring '08
  • billthompson
  • Marketing, organization Marketing plan

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