MKTG7501 Final: Marketing Notes & Study Guides
Document Summary
Economics supply and demand influences pricing strategies. Econometrics and business statistics regression analysis used in logistics. Psychology underlines cb, segmentation, positioning: organisational behaviour internal marketing and services marketing. Conditions for exchange: two or more parties, each has something of value to the other, each capable of communication and delivery, each is free to accept or reject the offer, consummated exchange is called a transaction. Step 2: design a customer driven marketing strategy (it is all about segmenting and targeting specific consumers) Select target market: segments, new or repeat customers, demand based, experiential marketing, customer involvement (excitement and interactivity) Choose value proposition: market positioning statement, bmw (cid:862) heer dri(cid:448)i(cid:374)g pleasure(cid:863, nudie (cid:862)a da(cid:455)(cid:859)s (cid:449)orth of fruit i(cid:374) e(cid:448)er(cid:455) (cid:271)ottle(cid:863, qantas (cid:862)world(cid:859)s safest airli(cid:374)e(cid:863) , woolworths (cid:862)the fresh food people(cid:863, competitive advantage. Marketing management philosophy: mmp = what framework guides marketing efforts. Where does organizational emphasis lie: production concept, the product concept, the selling concept, marketing concept, societal marketing concept.
