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York University
Administrative Studies
ADMS 2200
Li Lee

Marketing: A social and managerial process whereby individuals and groups obtain what they need and want by creating and exchanging products and value with others. Chapter 2 Marketing Strategy Marketing Mix: Product Decisions o The term product refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: Brand name Functionality Styling Quality Safety Packaging Repairs and Support Warranty Accessories and services Price Decisions o Some examples of pricing decisions to be made include: Pricing strategy (skim, penetration, etc.) Suggested retail price Volume discounts and wholesale pricing Cash and early payment discounts Seasonal pricing Bundling Price flexibility Price discrimination Distribution (Place) Decisions o Distribution is about getting the products to the customer. Some examples of distribution decisions include: Distribution channels Market coverage (inclusive, selective, or exclusive distribution) Specific channel members Inventory management Warehousing Distribution centers Order processing Transportation Reverse logistics Promotion Decisions o In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include: Promotional strategy (push, pull, etc.) Advertising Personal selling & sales force Sales promotions Public relations & publicity Marketing communications budget Managing Portfolio: Business Portfolio: the collection of businesses and products that together make up the company Must fit the companys strengths and weaknesses to opportunities in the environment Must first analyze current operations, lines of businesses, product groupings and decide which departments require the most investment in time, money, and resources Business Portfolio Analysis: evaluating products and businesses that make up the company o Strategic business unit: unit of the company that has a separate mission and objectives and that can be planned independently from other company businesses Ex. Company division, product line within a division, single o How do we organize SBUs? o How much support, in terms of financing and resources, each should o Purpose: to find ways in which the company can best use its strengths to take advantage of market opportunities as they develop and change Boston Consulting Group www.notesolution.comResources are allocated to business units according to where they are situated on the grid as follows: Cash Cow - a business unit that has a large market share in a mature, slow growing industry. Cash cows require little investment and generate cash that can be used to invest in other business units. o LOW GROWTH- HIGH SHARE Star - a business unit that has a large market share in a fast growing industry. Stars may generate cash, but because the market is growing rapidly they require investment to maintain their lead. If successful, a star will become a cash cow when its industry matures. o HIGH GROWTH- HIGH SHARE Question Mark (or Problem Child) - a business unit that has a small market share in a high growth market. These business units require resources to grow market share, but whether they will succeed and become stars is unknown. o HIGH GROWTH LOW SHARE Dog - a business unit that has a small market share in a mature industry. A dog may not require substantial cash, but it ties up capital that could better be deployed
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