The four concepts which organizations use to design their marketing strategies (product concept‚ production concept‚ selling concept‚ and societal marketing concept) are important because they serve as a guide for businesses to plan and carry out their marketing and selling efforts. The production concept is the oldest of the concepts in business. It proposes that customers prefer products that are cheap and widely available. organizations that focus on this concept are likely to concentrate on
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important questions the marketing manager must answer to design a winning marketing strategy. How does the manager go about answering these questions Chapter 1 Review Notes 1. Define marketing and discuss how it is more than just “telling and selling.” Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Hence‚ marketing is defined as the process
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Introduction: "Marketing is marketing‚ irrespective of the product or marketplace". This is a theme common to many introductory marketing texts and degree courses. The two most common exceptions cited to this proposition are buying behavior models between consumers and business buyers and the extended ingredients of the services marketing mix. While the overall sentiments of marketing hold true across product and market boundaries‚ perhaps the differences are in fact more marked? Intends to spark
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Marketing is selling of products or services‚ the business activity of presenting products or services in such a way as to make them desirable. Component of marketing: • Distribution • Marketing research • Advertising and sales promotion • Selling and merchandising • after sales services • Packing • Pricing • Product advertising Importance of marketing to a business Marketing improves the financial success of most organisations over a long period of time. It does cost the organisation
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The Full STP Process The Full STP Process The market segmentation‚ targeting and positioning (STP) process is a fundamental concept in understanding marketing and the strategies of firms. In most marketing textbooks‚ the STP approach is presented as a simple three step process. While that approach provides a good introduction to this marketing concept‚ it fails to adequately highlight the smaller steps of the STP process that should also be understood. The following diagram highlights the overall
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Attributes Describe the attributes of your product or service in detail Product attributes help organizations edge out competition by highlighting or providing personalization GNC know all too well that some weight management plans can leave you feeling like you are missing out on good foods. But with GNC popular weight management plans you do not have to forfeit your favorite foods and still managed your weight. GNC offers the customers their own meals menu simply handpicked by the customers
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MARKETING AND SOCIETY: A SOCIAL RESPONSIBILITY OVERVIEW ============================================= What is MARKETING? -We define marketing as the process of creating consumer value in the form of goods‚ services or ideas that can improve the consumer’s life. What is SOCIETY? -We define society as the community of people living in a particular region and having shared customs‚ laws and organization. What is SOCIAL RESPONSIBILITY? -Social responsibility talks about the obligation of
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Required Text: Marketing: An Introduction‚ (2013) 11th ed. by Gary Armstrong and Philip Kotler. Pearson ISBN: 978-0-13-274403-4 Resources All materials are posted on BlackBoard Instructor Lee D. Goldring‚ MBA Mobile /Text 321-578-9288 E-mail lgoldrin@stetson.edu Office Phone 386-822-7432 Office Location LBC 415 Office Hours Mondays and Wednesdays 1:30PM – 2:30PM‚ and by appointment Course Objectives: Identify the processes of segmentation‚ target marketing‚ and create a
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School of Marketing & International Business MARK 101: Principles of Marketing The Situational Analysis Report. Due: Two Page Draft (10%) - Thursday 4 April‚ 12pm‚ Assignment box‚ Location TBA. No extensions granted. Full Marketing Report (25%) - Wednesday 15 May‚ 12pm. Assignment box. Location TBA. Electronic Copy through Turnitin by 5pm Note: Any work
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Marketing Management Presented to: Prof. Sherif Elaasi Student Name: Faridah Bukhari ID#: MAM 105 Chapter 1: An Overview of Marketing What’s it all about Marketing? Marketing is the planning and implementation of four activities called 4 P’S “Marketing Mix” -‐ -‐ -‐ -‐ Product Place of Distribution Promotion Price When they are designed effectively
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