Marketing Questiona

MARKETING MANAGEMENT ORIENTATION

- production concept: idea that consumers will favour products that are available and highly affordable, and that the organization should therefore focus on improving production and distribution efficiency

- product concept: idea that consumers will favour products that offer the most quality, performance and features and that the organization should therefore devote its energy to making continuous product improvements

- Selling concept: idea that consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort

- Marketing concept: the marketing management philosophy which holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

- Societal marketing concept: idea that a companys marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests and society’s long run interests

PRODUCT/MARKET EXPANSION GRID

Existing products New products

Existing markets Market penetration Product development

New markets Market development Diversification

MARKETING ANALYSIS: SWOT ANALYSIS

Internal Strengths

Internal capabilities that may help a company reach its objectives Weaknesses

Internal limitations that may interfere with a company’s ability to achieve its objective

External Opportunities

External factors that the compant me be able to exploit to its advantage Threats

Current and emerging external factors that mey challenge the company’s performance

Positive Negative

MARKETING STRATEGY – STP

Market segmentation:

- dividing a market into distinct groups of buyers (segments) who have different needs, characteristics or behaviours and who might require separate products or marketing programs

- questions: what customers will we serve?

- No single way to segment a market, can be through geographic...