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Week 2 of notes

by: Lee Koppel

Week 2 of notes BDAM 3401

Lee Koppel
GPA 3.29
Basic Marketing Management
Alexander Krasnikov

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About this Document

Basic Marketing Management
Alexander Krasnikov
Class Notes
Marketing, business, badm
25 ?




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This 2 page Class Notes was uploaded by Lee Koppel on Friday January 23, 2015. The Class Notes belongs to BDAM 3401 at George Washington University taught by Alexander Krasnikov in Winter2015. Since its upload, it has received 83 views. For similar materials see Basic Marketing Management in Business at George Washington University.


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Date Created: 01/23/15
Basic Marketing Management Week 2 It is important to know the target market for a business It is important to know the competitors for a business 0 Tesla created its own market and because of this they don t have any competitors Blue Ocean Situation when you can do whatever you need to do Red Ocean Situation when you have to adjust to competitors constantly Business portfolio collection on businesses that make up a company Portfolio analysis strategic planning where management evaluates products and businesses that make up the company One way of doing this is the BCG matrix Y Axis Market Growth X Axis Market Share STAR QUESTION MARK CASH COW DOG 0 Though management like the BMX it is a very static description of the market Another one is the ProductMarket expansion grid Y Axis Product X Axis Market Existing New Existing Market penetration Market development New Product development Diversi cation Another one is the SWOT analysis Positive Negative Internal under Strength Weaknesses companies control External Opportunities Threats 4 P5 of marketing Marketing Mix 0 Product 0 Price 0 Place 0 Promotion Microenvironment Consists of the actors close to the company that affect its ability to serve its customers the company suppliers publics marketing intermediaries and competitors Intermediaries can include Resellers 0 Distribution rms 0 Marketing service companies Publics can include anyone who is affected by the companies achievements Microenvironment Consists of larger environments that affect the outcomes of a company 0 Demographic Economic Technological Natural Politicallegal Cultural


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