MKT 310 Lecture Notes - Lecture 4: Marketing Mix, Target Market, Swot Analysis
25 May 2016
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Document Summary
Not only physical goods, but also intangible services. As a consumer purchasing a product, how marketers set price (price relative to competition, discounts, allowances to motivate retailers to carry our product) Part of marketing that is most visible. How a product gets from a manufacturer to our hands. Wanting to create a marketing mix that really resonates to a particular target market. Strengths: things that are good now, and are helpful to achieve goals. The focus is on how to maintain these good things, build on them, or use them as leverage. Weaknesses: things that are bad now, and are harmful to achieve goals. The focus is on how to remedy the weaknesses, change them, or stop them. Information of the strengths and weaknesses comes from an assessment of the microenvironment and the 4 c"s (company, collaborators, customers, and competition) Internal to the company and thus is controllable by the company.
