Marketing 351 Exam 1 CSUF Lancellotti

Marketing 351 Exam 1 CSUF Lancellotti star Fast growing market leader cash cow Generates more cash than it needs to maintain its market share. In a low growth market, but product has dominant market share question mark Shows rapid growth but poor profit margins. Low market share in high growth industry dog Low growth potential and a small market share SWOT Analysis Identifying internal strengths and weaknesses and also examining eternal opportunities and threats Penetration same products for same customers Product Development new products for same customers Market Development same products for new segments Diversification new products for new segments Demography The study of people's vital statistics, such as age, race and ethnicity, and location Marketing Marketing is the analysis of customers, competitors, and a company, combining this understanding into an overall understanding of what segments exist, deciding on targeting the most profitable segments, positioning your products, and then doing what's necessary to deliver on that positioning. good marketing identifying the needs of the customers and better addressing them than other companies good marketing involves listening to customers, not tell. trying to make your customer happy (not just get a lot of sales) product solution to a consumers problem. positioned relative to competitors (price, offerings, etc.) need state of felt deprivation including physical, social, and individual needs. Natural, cannot be created by marketers want form that a human need takes, as shaped by culture and individual personality. Marketers can create a want demand Wants + Buying Power (i.e. benefits sought)