BSM 100 Study Guide - Final Guide: Marketing Strategy, Market Segmentation, Global Marketing
6 Dec 2017
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Porter, r/b ocean, marketing chapter 10 - nov. 1st. Marketing is the process of satisfying the organizations stakeholders and creating value for these stakeholders. Stakeholders are persons or organizations that have a relationship with the organization. Marketing is the common thread that ties all the stakeholders together. Marketing activities are market research - figure out your market and customers. Market strategy - overall direction of marketing and its objectives. Market planning and management -needed to reach companies objectives. Proving management - assessment of the right pricing structure. Chanel management - cost effective way of reaching the final customer. Communications management - developing advertising and promotional vehicles to communicate with audiences. Sales management / developing both service an quality. Product management - developing new products and managing existing ones. Two key marketing concepts are segmentation and product differentiation. A smaller firm should concentrate on marks where the opponents are weak.
