[MKTG 425] - Midterm Exam Guide - Everything you need to know! (10 pages long)

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7 Feb 2017
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College of Charleston
MKTG 425
MIDTERM EXAM
STUDY GUIDE
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C1: Marketing concept reviews 1/11/17
Case analysis = finding a solution for problems found NOT summary
Read marketing analysis toolkit (1) and 4th article (pricing and
profitability) by next class http://cb.hbsp.harvard.edu/cbmp/access/57044648
MARKETING ENVIORNMENT
(STEP 1) Situation analysis= SWOT Identifying the factors of a
particular marketing problem; internal vs external factors, positive vs
negative
(STEP 2) Diversification analysis = gives us a good idea on possible
directions to go; PRODUCT-current/future, MARKET current/future
matrix below; develop a marketing strategy based on the analysis of
different options. Can choose 1 or more direction to go
Marketing Process: Market= consumers with the desire and ability to
payMarketmarket segmentation--Market Segments find
Target MarketProduct positioning (how the product is perceived by
target market) w/ value proposition or POD (points of
difference)Marketing means, 4PS
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2
PRODUCT
Intro: focus on education, awareness,
Growth: differentiate
Maturity: develop brand loyalty and retention
Decline: bye bye product
BRAND
Brand Equity: additional benefit beyond the basic function of the
product, i.e buying a Gucci bag for the name
Line Extension: Introducing new products with existing Line, i.e. Coke
adding diet coke
Brand Extension: Adding a completely new product under the brand:
I.e. Microsoft going from software to gaming. 70% of new products
come from line or brand extensions
PLACE
Direct channel; buying direct from producer
vs indirect channels; Manufacturerwholesaleretailerconsumer
Horizontal Conflict: issue between intermediaries, is wholesalers
manufacturers
Vertical Conflicts: issues from within business operations
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