RSM251H1 Study Guide - Health Club, Vertical Integration, Sales Intelligence

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Strategy is a plan of action designed to achieve certain defined goals developed at multiple levels [corporate, divisional, business units, departmental] (ex. Sales volume, rate of growth, profit percentages, market share, and return on investment) Marketing strategy is composed of several interrelated elements. Marketing strategy compose of several interrelated elements: product/market selection, price, distribution, marketing communication, model for strategic planning. Product services = programs products that need repair and maintenance. Consumer packaged goods manufactures advertise extensively to move their products through distribution channels and off supermarket shelves. Private brand labels sell same products at much lower prices under their own private brand labels, with little or no advertising. Marketing mix: product/market selection, pricing, distribution, and market communications. Product is the total package of attributes the customer obtains when making a purchase. Product benefits might include what product does, warranties, repair services, technical assistance, brand name [in plied quality, reliability, assurance on ongoing product availability]

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