MKT 504 Midterm: MKT504 - Midterm - Ch. 1

• School: Ryerson University
• Department: Marketing
• Course: MKT 504
• Professor: Daryl D' Souza

Document Summary

Analyzing the situation: 5 c"s: company; customer; competitors; collaborators; climate (political, economic, socio- Segmentation: who do you want to pursue: targeting: choosing and focusing, positioning: how do you pursue. 4 p"s - the marketing mix: place, product, promotion, price. Importance of sales dialogue: business conversations between buyers and sellers that occur as salespeople attempt to initiate, develop, and enhance customer relationships. Transaction-focused selling vs. trust-based relationship selling: transaction-focused selling: focus on maximizing sales in the short run, trust-based relationship selling: focus on building a relationship between customer and salesperson over a long period of time. Improve on : ethics: creating a universal ethics code that is recognized by many businesses. Salespeople and society: help stimulate the economy and the diffusion of innovation. Salespeople and the employing firm: generate revenue, provide market research and customer feedback, become future leaders in the organization.