Class Notes (977,726)
US (384,410)
UNCG (54)
MBA 643 (1)
All (1)
Reference Guide

Marketing - Reference Guides

4 Pages
864 Views
Fall 2015
Likes

Department
MBA - Master's in Business Admin
Course Code
MBA 643
Professor
All
Chapter
Permachart

This preview shows page 1. Sign up to view the full 4 pages of the document.
WHAT IS MARKETING?
w w w . p e r m a c h a r t s . c o m
Marketing includes activities that identify customer and client needs while
matching products and services to those needs
• Includes selling, public relations, & advertising
• It is completed by individual firms but it is also a social process
MARKET RESEARCH
Marketing
Marketing
• Involves the activities of individual firms that, by anticipating the
consumer’s needs, direct flow of goods and services to customers and
clients
MICRO-MARKETING
• Systematic and time-efficient method, involving
people, equipment, and procedures, that results in
the gathering, analysis, evaluation, and distribution
of market information
• Future-oriented and computer-based; allows you to
generate reports
Determine information required Gather
information Process and analyze data Store data
for subsequent use
MARKETING INFORMATION SYSTEM (MIS)
• American
Demographics
• American Public
Opinion Index
• Brands and Their
Companies /
Companies and Their
Brands
• Business Rankings
Annual
• Dun’s Business
Rankings
• Gallop Poll Monthly
• Market Share Reporter
• MSA Profiles
• Moody’s Industrial
Manual
• Standard & Poor’s
Industry Surveys:
Monthly Investment
Review
• Thomas Register of
Products and Services
• U.S. Industry Profiles:
The Leading 100
Internet (individual
firms)
KEY SOURCES OF MARKETING INFORMATION
Primary Sources of Information
• Focus groups
• Surveys (mail, telephone, in-person)
• Observation of people’s actions
• Personal interviews (mail, telephone, in-person)
• Experimental methods
Secondary Sources of Information
• Inside the company (for example, files, reports, sales,
staff, marketing information system)
• Outside the company (for example, government,
Internet, libraries, private research firms,
universities, associations, advertising media,
foundations)
METHODS FOR COLLECTING INFORMATION
• Involves processes in a society that are necessary for economic development
• Societal processes meet the supply and demand of goods and services by
directing them on a mass-market level from producer to consumer
• Different societies have different objectives, resources, and skills
• Therefore, there are different macro-marketing systems
MACRO-MARKETING
MARKETING VS. SELLING CONCEPTS
Marketing All marketing efforts are aimed at providing products and
concept services that consumers want or need more effectively than
their competitors Long-term planning is ongoing for new
products and future growth
Selling Firm develops a product and then determines a sales
concept strategy that meets the seller’s needs Short-term
planning considers today’s markets Typically practiced
with unsought goods (for example, insurance,
encyclopedias)
TARGET MARKETING
• Defines broad product
markets
• Segments broad product
markets into target markets
that have different marketing
mixes
• Each market segment is
defined by homogenous group
of potential consumers
• Each market segment will be
heterogeneous from others
but large enough to be
profitable
• Determine defining criteria
that can be used to sell a
product
MARKET SEGMENTATION
• Marketing mix is developed
specifically for a homogenous
target group of people
• May consist of a large or small
group (niche)
• Understanding target markets will
usually lead to breakthrough
opportunities
TARGET MARKETING
• Trying to sell to everyone
• Marketing mix is aimed at everyone
with no distinctions among different
groups
MASS MARKETING
Define the objective • Determine what the
overall goal will be
Analyze the situation informally Collect
information inside and outside the company (for
example, company library, customers,
competitors, suppliers) Decide whether the
project is economically feasible Conduct
formal research
Select sources and locate problem-specific data
Gather data using appropriate research
method(s)
Analyze and interpret data Prepare a written
report
Solve the problem based on the report
Follow up by evaluating whether report
recommendations are followed
Consumer Psychographics,
segmentation demographics,
geography
Industrial Demographics,
segmentation purchasing
approach,
purchaser’s
characteristics,
operating
variables
Single-segment Choosing one
concentration homogenous
segment
Multiple Choosing more
segmentation than one segment
and marketing to
each separately
Combined Combining several
segmentation segments into one
target group
STEPS IN MARKETING RESEARCH PROCESS
(SCIENTIFIC METHOD)
MARKETING • 1-55080-842-7 1
TM
permacharts
l e a r n r e f e r e n c e r e v i e w
© 1999-2010 Mindsource Technologies Inc.

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
An easy to follow summary of every key marketing principle. The ability to effectively match a product or service to a need requires a well rounded understanding of the selling, public relations, and advertising that makes up the marketing disciplines. This detailed Guide provides assistance to anyone who requires an understanding of market research principles, strategic planning, and buyer behaviour. Marketing communications are also summarized in a chart format
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

You've reached the limit of 4 previews this month

Create an account for unlimited previews.

Already have an account?

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit