Marketing Analyses

Principles of MARKETING

1. CRM (customer relationship management): building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.

2. Marketing philosophy:

a) Production concept: the idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.

b) Product concept: the idea that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to marketing continuous product improvement.

c) Selling concept: the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort.

d) Marketing concept: the marketing management philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitor’s do.

e) Social marketing concept: the idea that a company’s marketing decisions should consider consumers want the company’s requirements, consumers long run interest and society’s long run interests.

3. The product market expansion Grid

a) Market penetration: a strategy for company growth by increasing sales of current products to current market segments without changing the product.

b) Market development: a strategy for company growth by identifying and developing new market segments for current company products.

c) Product development: a strategy for company growth by offering modified or new products to current market segments.

d) Diversification: strategy for company growth throws starting up or acquiring businesses outside the company’s current products.

e) Downsizing: reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company’s overall strategy.

4. Public: any...