M MARKETING, 4TH EDITION - MIDTERM REVIEW
- Creating, capturing, communicating,
and delivering value
What is marketing? Organizational func-
tion for:
- Managing customer relationships to
benefit of organization and stakeholders
- Creating value
- Satisfying customer needs and wants
- An exchange
- Product, price, place and promotion de-
What are the core aspects of marketing?
cisions
- Performed by both individuals and or-
ganizations
- Occurs in many settings
Trade of value between buyer and seller
Exchange
so that each is better off as a result
4P's Product, Price, Place, Promotion
- everything a buyer gives up (money,
time, energy) in exchange for the product
Price is
- How much are customers willing to pay
and can a profit be made at that point
What is a main reason an entrepreneur Identifies and satisfies an unfulfilled con-
can be successful? sumer need
- Customer excellence
4 Macro Strategies: Sustainable Com- - Operational excellence
petitive Advantage - Product excellence
- Locational excellence
- Planning phase
Marketing Plan Phases - Implementation phase
- Control phase
Strengths, Weaknesses, Opportunities,
SWOT Threats; analyzes both internal and ex-
ternal aspects of environment
Excitement, Education, Experience, En-
4E Framework for Social Media includes:
gagement
Categories of Social Media
1/8
, M MARKETING, 4TH EDITION - MIDTERM REVIEW
Social network sites, thought sharing
sites, and media sharing sites
A well-developed marketing strategy in-
volves a host of social and mobile tools, Identity strategic goals, target audience,
working in conjunction with the firm's tra- campaign: experiment and engage, bud-
ditional IMC tactics. The steps in under- get, and monitor and change
taking such strategy include:
Segmentation
STP Targeting
Positioning
- Strategic objectives
- Describe segments
STP Steps - Evaluate segment attractiveness
- Select target market
- Develop positioning strategy
Business mission and objectives
Situation analysis/SWOT
5 Steps in a Marketing Identify opportunities: STP
Implement marketing mix: 4Ps
Evaluate performance: market metrics
Stars, cash cows, questions marks and
Boston Consulting Group Matrix
dogs
- Consumers at the center
- Company
- Core competencies applied to new
Key components of immediate marketing
products
environment
- Competition Intelligence (CI)
- Proactive rather than reactive
- Corporate partners
- Culture
- Demographics
- Social
CDSTEP =
- Technology
- Economic
- Political/legal
Generational cohorts:
2/8
- Creating, capturing, communicating,
and delivering value
What is marketing? Organizational func-
tion for:
- Managing customer relationships to
benefit of organization and stakeholders
- Creating value
- Satisfying customer needs and wants
- An exchange
- Product, price, place and promotion de-
What are the core aspects of marketing?
cisions
- Performed by both individuals and or-
ganizations
- Occurs in many settings
Trade of value between buyer and seller
Exchange
so that each is better off as a result
4P's Product, Price, Place, Promotion
- everything a buyer gives up (money,
time, energy) in exchange for the product
Price is
- How much are customers willing to pay
and can a profit be made at that point
What is a main reason an entrepreneur Identifies and satisfies an unfulfilled con-
can be successful? sumer need
- Customer excellence
4 Macro Strategies: Sustainable Com- - Operational excellence
petitive Advantage - Product excellence
- Locational excellence
- Planning phase
Marketing Plan Phases - Implementation phase
- Control phase
Strengths, Weaknesses, Opportunities,
SWOT Threats; analyzes both internal and ex-
ternal aspects of environment
Excitement, Education, Experience, En-
4E Framework for Social Media includes:
gagement
Categories of Social Media
1/8
, M MARKETING, 4TH EDITION - MIDTERM REVIEW
Social network sites, thought sharing
sites, and media sharing sites
A well-developed marketing strategy in-
volves a host of social and mobile tools, Identity strategic goals, target audience,
working in conjunction with the firm's tra- campaign: experiment and engage, bud-
ditional IMC tactics. The steps in under- get, and monitor and change
taking such strategy include:
Segmentation
STP Targeting
Positioning
- Strategic objectives
- Describe segments
STP Steps - Evaluate segment attractiveness
- Select target market
- Develop positioning strategy
Business mission and objectives
Situation analysis/SWOT
5 Steps in a Marketing Identify opportunities: STP
Implement marketing mix: 4Ps
Evaluate performance: market metrics
Stars, cash cows, questions marks and
Boston Consulting Group Matrix
dogs
- Consumers at the center
- Company
- Core competencies applied to new
Key components of immediate marketing
products
environment
- Competition Intelligence (CI)
- Proactive rather than reactive
- Corporate partners
- Culture
- Demographics
- Social
CDSTEP =
- Technology
- Economic
- Political/legal
Generational cohorts:
2/8
