New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Marketing 201 Study Guide

Star Star Star Star Star
1 review
by: Naomi Sterling

Marketing 201 Study Guide MKT 201

Marketplace > University of Miami > Marketing > MKT 201 > Marketing 201 Study Guide
Naomi Sterling

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Study guide for test
Foundations of Marketing
Smita Kulkarni
Study Guide
50 ?




Star Star Star Star Star
1 review
Star Star Star Star Star
"I love that I can count on (Naomi for top notch notes! Especially around test time..."
Marley Langworth

Popular in Foundations of Marketing

Popular in Marketing

This 5 page Study Guide was uploaded by Naomi Sterling on Monday February 8, 2016. The Study Guide belongs to MKT 201 at University of Miami taught by Smita Kulkarni in Fall 2015. Since its upload, it has received 150 views. For similar materials see Foundations of Marketing in Marketing at University of Miami.


Reviews for Marketing 201 Study Guide

Star Star Star Star Star

I love that I can count on (Naomi for top notch notes! Especially around test time...

-Marley Langworth


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/08/16
Marketing Study Guide Chapter 1:  Marketing: the activity, set of institutions and processes for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.  Core Aspects: o Helps create value o Satisfying customer needs and wants o Marketing entails an exchange o Requires product, price, place and promotion decisions o Performed by individuals and organizations o Affects various stakeholders  Value: what you get for what you give / relationship of benefit to cost  1900: Production era o concerned with product not individual customer needs  1920: Sales era o overproduction lead to improvement of sale orientation  1950: marketing era o manufacturers began to focus on what consumers wanted and needed  1990: value based marketing era o focused on discovering and satisfying individual customer wants and needs, and less about money  4 P’s: Product/Price/Place/Promotion o Creating value o Capturing value o Delivering value o Communicating value  B2B/B2C/C2C  How firms become value driven: o Sharing information o Balancing benefits with costs o Building relationships with customers o Connecting with users using social media  Important because: o Can be entrepreneurial o Expands global presence o Enriches society o Pervasive across channel members Chapter 2:  Marketing strategy identifies o A firm’s target market o A related marketing mix (four p’s) o The bases on which the firm plans to build a sustainable competitive advantage  Sustainable competitive advantage: advantage over the competition that is not easily copied and can be maintained over a long period of time  Customer excellence o Firm develops value-based strategies for retaining loyal customers and provides outstanding customer service o Customer loyalty programs  Operational excellence o Efficient operations, excellent supply chain management and strong relationships with their suppliers o Amazon prime  Product excellence o Providing products with high perceived value and effective branding and positioning o Brand image (apple)  Locational excellence o Retailers and service providers o High density of stores  Marketing plan: a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs and financial income. o Planning phase  Step 1: business mission and objective  Step 2: situation analysis (SWOT) o Implementation phase  Step 3: STP  Segmentation  Targeting  Positioning  Step 4: Marketing mix (4 P’s) S o Control phase T  Step 5: evaluate performance using marketing E metrics K  Growth strategies: R PRODUCTS AND SERVICES A M Current New o Penetration Product Development n e r C w N Market Development Diversification Chapter 5: Marketing environment  Consumers are always centerpiece  Immediate environment: company/ competition/corporate partners  Macroenvironmental factors: culture/ demographics/ political & legal/ social/ economic/ technology o Demographics: Baby boomers/ gen X – Y – Z o Green buying/ health and wellness Chapter 9:  Segmentation o Establish strategies – SWOT o Segmentation methods:  Geographic segmentation: location  Demographic segmentation: age, gender  Psychographic segmentation: how consumers describe themselves, lifestyle  Benefit: convenience  Behavioral: how they use the product o Segment attractiveness:  Substantial  Reachable  Responsive  Profitable  Identifiable  Targeting o Strategies:  Differentiated: several segments with different market for each  Undifferentiated/ mass marketing: everyone is a consumer (gas/ salt/ sugar)  Concentrated: primary target market and focuses on providing a product for it’s specific needs  Micromarketing / one to one: tailored to an individuals needs  Positioning o How customers think about a product, service or brand in the market relative to competitors offerings Chapter 10:  Primary research: research done by you o Pro: specific, gives you what you need o Con: money  Secondary: done by someone else you are using o Pro: fast, easy o Con: time, might not be tailored to what you need  Internal: inside the firm  External: outside the firm  Data mining: finding patterns in given set of info o Credit card fraud  Data warehousing: o Aggregated data from multiple sources so that it’s centralized  Facebook  Qualitive research: o Exploratory – to find reasoning, opinions and values. o Focus groups/ small  Quantitive: o Data oriented with numerical statistics o To sample large population o Online surveys, telephone


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Janice Dongeun University of Washington

"I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.