MKTG 301 Lecture Notes - Lecture 2: Personal Selling, Marketing Mix, Target Market
11 Apr 2017
School
Department
Course
Professor
Document Summary
Mktg 301 lecture 2 marketing strategy. Know your target market: you should know target market and customers better than they know themselves. Target market: who you want to satisfy: can be big: walmart or apple are aiming at clearly defined markets. Marketing mix: production, place, promotion, price: satisfaction comes from these 4 things, product, place, promotion, price strategies all together = marketing strategy. Porsche: 5 different segments, stressing common themes: performance & safety. What does product encompass: physical characteristics, branding, packaging, warranties, after-sale service. Relevant topics: new product development, product life cycle, product assortment. How you get your product to customers. What does promotion involve: advertising, publicity and pr, coupons, samples, personal selling. What price needs to take into account: flexibility, discounts and allowance, changes over time, geographic terms. Objective: target market with marketing strategy (product, place, promotion, price) Start with 5 c"s: context (climate, customers, company, competitors, collaborators. Also includes swot and segmentation targeting positioning.
