COMM 223 Study Guide - Midterm Guide: Starbucks, Marketing Strategy, Marketing Mix
7 Mar 2018
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Document Summary
Strategic planning: the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities. Marketing strategy is through segmentation, targeting, positions, and differentiation. Segmentation: dividing the market into segments of buyers according to their needs. Targeting: evaluating each segment and selecting which to pursue. Positioning: attempting to occupy a desirable place in the minds of target consumers. Differentiation: creating unique and superior customer value. Marketing mix : four p"s. set of controllable marketing tools for target market. Seller view has the four p"s, however there are the four c"s for the buyers view. Customer solution : customer see themselves as buying value or solutions. Customer cost : customers interested in price of buying, using, and disposing. Internal strengths: internal capabilities that may help a company reach its objectives. Internal weakness: internal limitations that may interfere with a company"s ability to achieve its objectives.
