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In Class notes

by: Samantha Bressler

In Class notes MKT 423 Market Strategy

Samantha Bressler

GPA 3.6

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About this Document

Part two of Chapter 1 and 2
Market Strategy
Mrs. Emily Emery
Class Notes
Marketing, marketingstrategy
25 ?




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This 1 page Class Notes was uploaded by Samantha Bressler on Friday October 7, 2016. The Class Notes belongs to MKT 423 Market Strategy at College of the Ozarks taught by Mrs. Emily Emery in Fall 2016. Since its upload, it has received 4 views. For similar materials see Market Strategy in Business Administration at College of the Ozarks.

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Date Created: 10/07/16
Market Segments: distinct subsets of people with similar needs, circumstances, and  characteristics that lead them to respond in a similar way to a particular product or service  offering or to a particular strategic marketing program. Start of Chapter two The difference between a market­oriented firm and a product­oriented firm: Exhibit 2.1 on page 34 shows the influence of functional units over various business decisions Market­oriented firm:      operate in terms of satisfying customer needs.           Marketing concept holds that the planning and coordination of all company activities  around the primary goal of satisfying customer needs is the most effective means to attain            and sustain a competitive advantage and achieve company objectives over time.      adopts products to customers.      market research: want to make sure that what they create is going to satisfy needs      offers wide variety of products for the customer. Exhibit 2.2 on page 36: become familiar with this. Product­oriented firm:      operate in terms of growing demand of a product.      may try to improve products      gain markets of scale, fine tune the production to gain production margin      larger sales force, larger advertising budget.      product line is narrow: they do not create as many different products Exhibit 2.3 on page 37: good comparison of two orientations. Strategy:      a strategy is a fundamental pattern of present and planned objectives, resource deployments,  and interactions of an organizations with markets, competitors, and other environmental factors. Scope: the number of industries you will be competing with. goals and objectives: what are trying to accomplish, profit margin resource deployment: how are you going to allocate your needs as a business identification of a sustainable competitive advantage: product quality and how to compete  with competition synergy: the whole is greater than the sum of parts. sustainability: what can we do to not harm our future generations. ethics: concern with moral standards of society.


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