COMM 131 Final: COMM131 Exam Notes
4 Dec 2012
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Document Summary
Apply marketing mix cases articles ex mind your pricing cues quantitative analysis. Ch 1 marketing: creating and capturing customer value. Marketing strategy process whereby a company determines who to sell and how to offer their product to that group (segmentation, targeting, positioning) Marketing tactics collection of marketing activities that together accomplish the larger goal of satisfying customer needs and building customer relationships (4 p s) Market set of actual and potential buyers of a product or service. Need state of felt deprivation including physical, social and individual needs. Wants specific form of a need that is shaped by culture and personality (choices we make to fulfill or needs) Demand a want backed by buying power. Marketing myopia the mistakes of paying too much attention to product and not customers lose sight of the needs that their offerings satisfy segments should be homogenous within and heterogeneous without communicate value propositions serve customers.
