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Chapter 6

CHAPTER 6.docx

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Administrative Studies
ADMS 3920
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2 October 2012 CHAPTER 6 SMALL BUSINESS MARKETING PRODUCT AND DISTRIBUTION STRATEGIES Small Business Marketingconsists of those business activities that identify a target market determine that markets potential and prepare communicate and deliver a bundle of satisfaction to that marketMarket Analysisan evaluation process that encompasses market segmentation marketing research and sales forecastingMarketing Mix 4Psthe combination of product pricing promotion and distribution activities MARKETING PHOLOSOPHIES 1 Productionoriented emphasizes the product as the most important part of the business The firm concentrates on producing the product in the most efficient manner2 Salesoriented deemphasizes production efficiencies and customer preferences in favor of marketing sales A shortsighted approach to marketing 3 Consumeroriented expresses the firms belief that everything including production and sales depends on consumer needs All marketing efforts begin and end with the consumer Contributes to a firms longterm survival by emphasizing customer satisfactionESTIMATING MARKET POTENTIAL A market is a group of customers or potential customers who have purchasing power and unsatisfied needsSegmentation VariablesThe parameters used to distinguish one form of market behaviour from another
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