[MKT 201] - Midterm Exam Guide - Comprehensive Notes for the exam (24 pages long!)
Document Summary
Two very important things - exchange and value. Must do one thing before you do the next thing: marketing analysis, the 5 cs. Customers, company, competitors, collaborators, context: s-t-p (creating value) Segmentation, targeting, positioning: the marketing mix, the 4 ps. Price (capturing value: customer acquisition, customer retention (sustaining value) Sustaining value: profits, and mission if you are a nonprofit. Firms need to know who is buying product. More than one person involved in purchase. Who is part of the ultimate delivery of value. Coke, wawa is retail provider, but they have a great relationship with pepsi too, it"s about wawa and everyone. Dividing into groups based on some characteristic. Must be different in some way, i"m going to reach you differently than another group. Aerie is successful with women but now they"re focusing on another. People are very similar in one way. All men of 20 years old have very similar needs when it comes to underwear.
