BSB126 Study Guide - Final Guide: Monopolistic Competition, Marketing Mix, Marketing Strategy

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20 Jan 2017
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Lecture 1: introduction to marketing and the marketing concept. Market: people with the desire and ability to buy a specific product. Marketing: process of developing, pricing, promoting and distributing goods, services and ideas, to satisfy the needs of customers. Target market: specific group of potential customers towards which an organisation directs is marketing program. Relationship marketing: linking the organisation to individual customers, employees, suppliers and other partners for their mutual long-term benefit. Marketing program: plan that integrates the marketing mix to provide a good, service or idea to prospective buyers. Societal marketing concept: the idea that organisations should satisfy the needs of customers in a way that provides for society"s well-being (social responsibility and ethical considerations). Environmental forces -uncontrollable factors: social, economic forces, technological forces, competitive forces, regulatory forces. Lecture 2: introduction to marketing growth strategies and planning. Organisational strategy levels: corporate: managing several business units, business unit: individual products and markets, functional: focussed strategy within various business.

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