AC 114 Study Guide - Midterm Guide: Geodemographic Segmentation, Consumer Reports, Marketing Mix

• School: FIT
• Department: Advertising and Marketing Communications
• Course: AC 114
• Professor: Alis Purcell

Document Summary

Value represents the relationship of bene t to costs. Most rms integrate a value orientation (the ability to design products and services that achieve precisely the right balance between bene ts and costs) Value based marketing focuses more on long lasting customer relationships rather than making pro t. Marketing helps facilitate the smooth ow of goods through the supply chain, all from the raw materials to the consumer. Marketing is the corner stone for entrepreneurialism: production-oriented era: people believed that a good product would sell itself. Marketers were concerned with product innovation, not with satisfying the needs of the individual consumers: sales- oriented era: manufacturers had the capacity to produce more than customers really wanted or were able to buy. Sunday, october 22, 2017 time frame: step 1: de ne the business mission, step 2: conduct a situation analysis: swot, step 3: segmentation, targeting and positioning. Stars: ( high growth markets and are high market share products=========-