MARK 201 Study Guide - Midterm Guide: Bargaining Power, Gross Domestic Product, Marketing Management
8 Dec 2016
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Marketing management: -process in which companies create value for customers and build strong customer relationships in order to capture value from customer in return. Get value from customers, create profits and customer equity!! Value proposition: -statement telling customers why they should buy from you and not your competition. Economies of scale: more we produce per hour, the lower the cost. Marketing tasks and goals (external): -conversional (converting customers from 1 brand to another) Stimulational (getting current clients to by more of product) Developmental (expanding product target market (arm and hammer)) Synchromarketing (releasing products at specific time to maximize profits) Maintenance marketing (company maintaining its presence througout the year, not seasonal) Demarketing (company wanting to maintain good image, prevent accidents) Counter marketing (taking product off market (tylenol scandal)) Marketing definition: -human activity directed at satisfying needs and wants through exchange processes.
