Chapter 1 an overview of marketing Two facets of marketing: 1. A philosophy‚ an attitude‚ a perspective‚ or a management orientation that stresses customer satisfaction. 2. Marketing is an organization function and a set of processes used to implement this philosophy. American Marketing Association Definition of Marketing Marketing is the activity‚ set of institutions‚ and processes for creating‚ communicating‚ delivering‚ and exchanging offerings that have value for customers‚ clients‚ partners
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MARKETING STRATEGY The field of marketing strategy considers the total marketing environment and its impacts on a company or product or service. The emphasis is on "an in depth understanding of the market environment‚ particularly the competitors and customers." A given firm may offer numerous products or services to a marketplace‚ spanning numerous and sometimes wholly unrelated industries. Accordingly‚ a plan is required in order to effectively manage such products. Evidently‚ a company needs
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Marketing Strategy MKT – 306 Assignment Guide – 2011 -12 Module Leader: Sudipta Das Email: sudipta.das@sunderland.ac.uk Introduction to the Assignment: Please read all instructions and information carefully. You are required to submit your work under the University Infringement
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PGDM (Batch:2012-14/ Term-III) MARKETING MANAGEMENT-II (C-303) Session 1‚ 2&3 T- Course Overview; Introduction to Strategy Development Framework; (Finalization of C- What is our Business? (Hard Copy) groups) R- 1.Strategy as simple rules –HBR Article (Soft Copy) 2. Environmental and Internal Analysis (West et al.) Ch-3‚ pp-65-89 AR- What is Strategy? - HBR Article (Soft Copy) Session 4&5 T- Understanding Business and Marketing Objectives C- 1.Carolina Lunker Sauce (Hard Copy) 2. Glaxosmithkline:
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introduction of the study Marketing is the process by which companies determine what products or services may be of interest to customers‚ and the strategy to use in sales‚ communications and business development. It generates the strategy that underlies sales techniques‚ business communication‚ and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. Marketing is used to identify the
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Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.[1] Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation‚ evaluation and selection of market-oriented strategies and therefore contribute
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development of their marketing strategies with regards to the deterioration of some other existing firms. The market concept of building an organization around the profitable satisfaction of customer needs helped firms achieved high-success growth‚ moderately competitive markets. However‚ to be successful in the markets in which economic growth has leveled and there exist many competitors who follow the marketing concept‚ a well-developed marketing strategy is required. Such a strategy considers a portfolio
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best not to conduct marketing research When there is no high level of uncertainty. For example‚ when company understands the characteristics of the target customers and their likes and dislikes regarding existing products‚ under this circumstances‚ further research would be repetitive and waste money When the value of research information is not greater than the cost of generating the information. 15. Discuss the three major benefits of marketing research to managers Marketing research is the process
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Corporation abbreviated as JFC and popularly known as Jollibee (PSE: JFC) is a Philippine multinational chain of fast food restaurants headquartered in Pasig City‚ Philippines. JFC is the parent company of Jollibee‚ the country’s answer toMcDonald’s in the fast food burger business. With its success‚ the company bought out their competitors in the fast food business like Chowking‚ Greenwich Pizza‚ Red Ribbon bakeshop‚ Mang Inasal and Burger King Philippines.[2] In 2011‚ JFC had a total of 2‚510 stores
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Marketing strategy of the product or service The “Marketing Mix” is a business tool used in marketing products. It is classified into “four Ps”: product strategy‚ distribution (place) strategy‚ communication (promotion) strategy and pricing strategy. “Four Ps” are the variables that marketing managers can control in order to best satisfy customers in the target market. Product Strategy Product differentiation strategy A product strategy identifies that how companies plan to sell their products
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