MKTG 3310 Chapter 2 Notes
MKTG 3310 Chapter 2 Notes MKTG 3310-001
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This 2 page Class Notes was uploaded by Melissa Cooey on Thursday January 28, 2016. The Class Notes belongs to MKTG 3310-001 at Auburn University taught by Jeremy Wolter in Spring 2016. Since its upload, it has received 197 views. For similar materials see PRINCIPLES OF MARKETING in Business at Auburn University.
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Date Created: 01/28/16
Sunday, May 22, y MKTG 3310 Chapter 2: Marketing Strategy Value Creation/Value Appropriation Value Creation the products that we make, and the value potential in it. Value Appropriation how the firm tries to require some of that value that it created back into the company. 3 main value appropriators: • firm • society • competitors Is marketing more related to value creation or value appropriation? Both! Value Creation R&D Supply chain coordination Cocreation Value Appropriation Patents Branding Advertising Marketing Strategy Specifies a target market and a marketing mix 1 Sunday, May 22, y Target Market a fairly homogenous group of customers to whom a market wants to appeal. Marketing Mix the controllable variables the company puts together to satisfy the target market. Mass Marketing vs Targeted Marketing Target varying some element of the mix for a target market (rifle approach). Mass aiming at every one with the same mix (shotgun approach). 2
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