Mkt ch.2

  1. marketing management process
    • 1. planning marketing activities
    • 2. directing the implementation of the plans
    • 3. controlling these plans
  2. strategic planning
    • the job of planning strategies to guide a whole company.
    • the managerial process of developing and maintaining a match between an organization;s resources and its market opportunities.
    • same as marketing strategy planning
  3. marketing strategy planning
    finding attractive opportunities and developing profitable marketing strategies.
  4. *Marketing strategy
    Target market + marketing mix (4 P's)
  5. Target market
    a similar group of customers to whom a company wishes to appeal.
  6. *Marketing mix
    • the controllable variables the company puts together to satisfy this target group.
    • Product-goods or services to market
    • Pricing- setting profitable and justifiable prices
    • Place/Distribution- right product to the right place at the right quantity and time.
    • Promotion- developing an integrated marketing communication.
  7. *Marketing plan
    • a written statement of a marketing strategy and the time related details for carrying out the strategy.
    • should spell out:
    • -marketing mix
    • -company resources
    • -what results are expected
  8. S.W.O.T. Analysis
    evaluating your company's strengths, weaknesses, opportunities, and threats.
  9. personal selling
    • face to face, via telephone or internet videoconference.
    • sometimes attention is needed after the sale.
  10. customer service
    a communication between the seller and the customer who wants the seller to resolve a problem with a purchase.
  11. mass selling
    • communicating with a large number of customers at the same time.
    • main form is advertising.
  12. sales promotion
    • promotion activities - other than publicity, advertisement and personal selling- that stimulate interest, trial or purchase by a customer.
    • coupons, samples, signs, contests, events catalogs...
  13. operational decisions
    short-run decisions to help implement strategies
Card Set
Mkt ch.2
Mkt ch.2 part 1