Marketing

The Buying Process

Positioning:

Segmentation, Market segmentation

Perpetual positioning map

4 most important approaches on marketing segments

Promotion Mix (PPPP)

Product: the totality of 'goods and services' that the company offers the target market

Price: what customers pay to get the product

Promotion: activities that communicate the product or service and its merit to target customers and persuade them to buy

Place: all the company activities that make the product or service available to target customers.

Marketing approach has changed in the last years- how, focus on product, objectives of marketing

Definition of marketing: marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value in return. The marketing process involves five steps. The first four steps create value for customers. First marketers need to understand the marketplace and customer needs and wants. Next, marketers design a customer-driven marketing strategy with the goal of getting, keeping, and growing target customers. In the third step, marketers construct a marketing programme that actually delivers superior value. All these steps form the basis for the fourth step, building profitable customer relationships and creating customer delight. In the final step, the customer reaps the rewards of strong customer relationships by capturing value from customers

X step of the creation of value

How to obtain information about the market

Chapter 3

The Strategic Plan: involves adapting the firm to take advantage of opportunities in the constantly changing environment. It is the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities.

The Planning Process: analysis, planning, implementation, and control

Mission: a mission states the purpose of...