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Sept 15, 2012.docx

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MKT 100
Harvey Mc Phaden

4 Ps - Product, price, place, promotion STP - Segmentation, targeting, position 6 Core concept Chapter 2 price and value for money: - each person may have a completely different perception of value - price is only part of a value place and value delivery: - product must be readily accessible current market + current product = market penetration new product + current market = product development current product + new market = market development new product + new market = diversification - out on thin ice, no experience with product or market to grow in a difficult retail market, a company should find a new market Sustainable competitive advantage: something the firm can consistently do better than its competitors: locational excellence + operational excellence + product excellence + customer excellence = customer value Chapter 3 macro environmental factors: company, competition, corporate partners micro environmental factors (CDSTEP): culture, demographics, social, technological, economic, political/legal Competitors: - identify and analyze direct/indirect competitors - know them inside/out - know SWOT stockholders are not part of a company's immediate environment CDSTEP: - Culture - culture - country vs regional culture - need to know how to communicate with different markets -Demographics: - provides an understanding snapshot of the typical consumer in a specific target - tribes (profiling): tweens, gen y, gen x, baby boomers, seniors - age, gender, race Income - purchasing power is tied to income - know the income level of the target market - Stats Can tracks income - middle class families feel decline in purchasing power in recent years Education - related to income - determines spending power Gender - male/female roles are shifting - marketing changed to reflect the shift Social trends - Greener consumers ("Greewashing"): who appreciate companies to supply then with env. friendly mercha
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