MARK 302 Study Guide - Midterm Guide: Affinity Analysis, Measuring Instrument, Decision Support System
16 Oct 2017
School
Department
Course
Professor
Document Summary
To accomplish their goals efficiently, firms today have adopted this method: a consumer orientation, a goal orientation, a systems orientation. The firms strive to identify the people or firms most likely to buy their product and to produce a good or offer a service that will meet the needs of target customers most effectively in the face of competition. The goals of profit-making firms usually centre on financial criteria, such as 15 percent return on investment. Systems orientation: involves the creation of systems to monitor the external environment and deliver the desired marketing mix to the target market. Descriptive function: this includes gathering and presenting statements of fact. Diagnostic function: wherein data or actions are explained. For instance companies may wonder whether consumer demand for sustainable products is a fad of a long-term trend. 1 the quality being delivered is the quality desired by the target market. 2 the added quality must have a positive impact on profitability.
