MKT 305 Study Guide - Final Guide: Marketing Mix, Target Market, Mass Marketing
Document Summary
Marketing management process: planning marketing activities, directing the implementation of the plans, controlling the plans. The managerial process of developing and maintaining a match between an organization"s resources and its market opportunities. Specifies a target market and a related marketing mix. A big picture of what a firm will do in some market. A fairly similar group of customers to whom a company wishes to appeal. The controllable variables the company puts together to satisfy this target group. Typically includes some product, offered at a price, with some promotion to tell potential customers about the product. States that a marketing mix is tailored to fit some specific target customers. Vaguely aims at everyone with the same marketing mix. The four ps that make up a marketing mix: Direct spoken communication between sellers and potential customers. Personal communication between a seller and customer that wants the seller to resolve a problem with a purchase.
