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This 2 page One Day of Notes was uploaded by Alyssa Hoying on Tuesday September 9, 2014. The One Day of Notes belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 165 views.
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Date Created: 09/09/14
Information Email Aditi for grades Chaitanya and Sam text people Mon Wed Fri 12 is her office hours 2 exams Midterm multiple choice Final cumulative 25 first material 75 second half 500 total points Day 1 Why Study Marketing Important to business important to society good career opportunities communicate with consumers market an idea psa 4 ps of marketing promotion price promotion place distributions Chapter 1 Marketing the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return First step understand the marketplace and customer needs and wants how Marketing research focus groups depth interviews observational research test markets Why Columbus microcosm of the nation consumers have jobs and money to spend lots of young consumers advertising is affordable media market is contained almost 20 fast food chains headquartered in Cbus wendys Customers needs wants and demandsneeds states of deprivation physical social individual Wants form that needs take as they are shaped by culture and individual personality Demands wants backed by buying power Marketing myopia focusing only on existing wants and losing sight of underlying consumer needs People don39t want to buy a quarter inch drill They want a quarter inch hole How do we do this marketing management the art and science of choosing target markets and building profitable relationships with them Design a customer driven marketing system Construct an integrated marketing program that delivers superior value use four ps to develop integrated marketing communication program Build profitable relationships and create customer delight Capture value from customers to create profits and customer equity Ultimate goal of customer relationship management Customer satisfaction and delight expectancy disconfirmation model CS Cp customer perceptions of actual qualityexperience ce customer expectations of quality experience CSltCE dissatisfaction CPCE satisfaction DON39T OVER PROMISE AND UNDER DELIVER CPgtCE delight Chapter 2 Company and marketing strategy Strategic planning business unit product and market level planning marketing and other functional strategies Define the organizations mission Characteristics of Good Objectives measurable specific realistic time specific Strategy market penetration seeks to increase sales of existing products to existing markets Strategy product development create growth by selling new products in existing markets Strategy market development introduce existing products to new markets Strategy diversification emphasize both new products and new markets to achieve growth Steps in the Marketing Planning Process 1 Perform a Swot analyisi strengths weaknesses opportunities threats 2 Set marketing objectives 3 Develop marketing strategies STP Products can be tangible goods ideas services package warranty service brand image value
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