MKTG1501 Lecture Notes - Lecture 3: Social Class, Selective Exposure Theory, Subculture
Document Summary
Strategic planning aligning the organisations goals and capabilities to the market they exist within: having specific goals is necessary. Finds opportunities: pro(cid:448)ides a (cid:862)guidi(cid:374)g philosophy(cid:863, marketing strategy focuses on planning and coordinating marketing resources in. Focus on developing market position, and satisfying and retaining customers. conjunction with the marketing mix to effectively target, target markets: aim to create customer value, o. Branding: make purchasing easier, connect marketing and experiences to a product, reduces selling costs, o. 3: 5 levels of ascending brand familiarity, rejection, non-recognition, recognition, preference. Institutions: market research aims to determine how to create the best market stimuli, understand regarding the product o who o where o when o why o what, o. Selective exposure not all i(cid:374)puts (cid:373)ake it i(cid:374)to people"s a(cid:449)are(cid:374)ess, people sele(cid:272)t (cid:449)hat they interact with. Selective distortion adaptation of information for personal meanings. Selective retention people only retain what is important and supportive to them.
