MKTG2004 Study Guide - Final Guide: Rote Learning, Advertising Mail, Direct Market
Document Summary
Orientation optimise profitability, revenue and customer satisfaction by focusing on precise customer groups. The nature of strategic planning: planning - the process of anticipating future events and determining strategies to achieve organisational objectives in the future. Strategic planning - the managerial process of creating and maintaining a fit between objectives, resources and evolving market opportunities. Strategic window - the limited period during which the "fit" between the key requirements of a market and the particular competencies of an organisation are at an optimum. Sustainable competitive advantage - an advantage that cannot be copied by the competition. Market penetration - tries to increase market share among existing customers, eg: mcdonald"s sells more happy meals with disney movie promotions. Market development - attracts ne customers to existing products, eg: Product development - the creation of new products for current customers, eg: Diversification - introducing new products into new markets, eg: mcdonald"s introduces line of children"s clothing.
