MARK301 Final: Chapter 2-Study notes.docx
25 Jan 2015
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Document Summary
Marketing plays a key role in several ways: marketing provides a guiding philosophy the marketing concept that suggest that company strategy should revolve around building profitable relationships with important consumer groups, marketing provides inputs to strategic planners by helping to identify attractive market opportunities and by assessing the firm"s potential to take advantage of them, within individual business units, marketing designs strategies for reaching the units objectives. The marketing mix consists of everything the firm can do to influence the demand for its product: these can be: product (cid:224) goods and services combination the company offers to target markets, price (cid:224) the amount of money customers have to pay to obtain the product, place (cid:224) includes company the product available to target, promotion (cid:224) activities that merits of the product and customers to buy it. activities that make consumers. communicate the persuade target.
