CREATING COMPETITIVE ADVANTAGE
This chapter pulls all of the marketing basic together. Understanding customers
is an important first step in developing profitable customer relationships, but it is
not enough. To gain competitiv
Ch. 8 points:
Companies provide either a product or service. A product is anything
offered for consumption in a tangible form, whereas a service is activities,
benefits, or satisfactions provided in an intangible form. However, it is essential
that a f
Ch. 1 Points:
1. 1. Company-Wide strategic planning sets the stage for the rest of planning
in the firm. It is the process of developing and maintaining a strategic fit between
the organizations goals and capabilities and its changing marketing
Ch. 2 Points:
1) Company-Wide strategic planning sets the stage for the rest of planning
in the firm. It is the process of developing and maintaining a strategic fit
between the organizations goals and capabilities and its changing
Chapter 3 Points:
1. There are numerous environmental forces that affect a companys ability to
serve its customers. Such forces include the companys microenvironment and
the companys macroenvironment.
2. The microenvironment is made up of actors close to
Chapter 4 Key Points:
1. A company needs sound information in order to produce value and
satisfaction for its customers. Additionally, a company needs information on its
competitors, resellers, and other actors and forces in the marketplace.
2. The market
1. Consumers dont know what causes their purchases. Marketers use
the four Ps to create stimuli: product, price, place, and promotion. A
buyers characteristics and decision process is what revolves around how
marketers choose to achieve buyer incentive.
Put these in order (excel directions):
1. a. rename doc, rename tab sheet, input data, verify formula unit, fix spacing in
columns and rows
b. =PMT(rate, nper, pv, fv, type)
rate is the interest rate for the loan.
nper is the number of payme
NEW-PRODUCT DEVELOPMENT AND PRODUCT
1. Developing new products
2. Managing products through their life cycles.
New-product development is risky, and many new products fail.
The first part of this chapter la
PRICING: UNDERSTANDING AND CAPTURING CUSTOMER VALUE
Firms successful at creating customer value with the other marketing mix activities must
capture this value in the prices they earn.
This chapter addresses the importance of p
DELIVERING CUSTOMER VALUE
This chapter deals with distribution.
An individual firms success depends not only on how well it performs but also on how
well its entire marketing channel competes with competitor
RETAILING AND WHOLESALING
This chapter is a continuation of the prior chapter on marketing channels; it provides
more detail on retailing and wholesaling, two very important concepts in the value
COMMUNICATING CUSTOMER VALUE: INTEGRATED MARKETING
Companies must do more than just create customer value. They must also use
promotion to clearly and persuasively communicate that value. Promotion is no
ADVERTISING AND PUBLIC RELATIONS
In this chapter, we look at advertising and public relations. Advertising involves
communicating the companys or brands value proposition by using paid media
to inform, persuade, and remind cons
Ch. 7 Points
1) Target marketing requires identifying market segments, selecting one or more,
and developing products and marketing strategies tailored to each.
2) Buyers in any market have different wants, needs, and attitudes. Creating