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Final

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Department
Administrative Studies
Course Code
ADMS 2200
Professor
Li Lee
Study Guide
Final

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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
oThe 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
oSome 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
oDistribution 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
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Transportation
Reverse logistics
Promotion Decisions
oIn 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
oStrategic 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
oHow do we organize SBUs?
oHow much support, in terms of financing and resources, each should
oPurpose: 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
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Resources 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.
oLOW 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.
oHIGH 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.
oHIGH 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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