mkt100 Chapter Notes - Chapter 2: List Price, Swot Analysis, Marketing Mix
Document Summary
Marketing plays a key role: the marketing concept: building profitable relationships with important consumer groups. Provides inputs to strategic planners: helps identify attractive market opportunities. Companies need to look beyond internal value chain and into the value chains of its suppliers, distributors, and customers. Value delivery network network of company, suppliers, distributors, and customers who partner to improve the whole system. Competition is no longer between individual competitors but entire value delivery networks. Marketing strategy logic by which company hopes to produce customer value and achieve profitable customer relations. Company decides which customer it will serve (segmentation and targeting) and how (differentiation and positioning) The designs integrated marketing mix through analysis, planning, implementation and control. Each company must divide up the total market, choose the best segment, and design strategies for profitability serving that segment segmentation targeting differentiation positioning. Market segmentation dividing market into distinct groups of buyers with different needs, characteristics or behaviors.
