MKT 100 Study Guide - Midterm Guide: Herfindahl Index, Search Engine Marketing, Tim Hortons

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hana Saikali

Document Summary

Marketing is the activity and process of creating, communicating, delivering and exchanging offerings of value for customers, clients and society at large. Marketing is not black or white it is gray, there are many right answers to a problem. A framework using products and markets to categorize or describe business strategies. Market penetration this involves increasing market market segments. This can be achieved by selling to established customers or by finding new existing markets. Product development this involves developing existing markets. Product development involves new products can meet customer needs more the products of competitors. Market development this strategy entails for existing products. Market research and of markets helps to identify new groups of share within existing more products/services customers within new products for thinking about how closely and outperform finding new markets further segmentation customers. Diversification this involves moving new products into new markets at the same time.