MKTG 2030 Chapter Notes - Chapter 1-2: Robert Nardelli, Folgers, Dollar General
15 Mar 2016
School
Department
Course
Professor
Document Summary
K-mart failed because they were unclear about their strategy: k-mart tried to go expensive to avoid competition with wal-mart and made deals with. Martha stewart but it was confusing because customers were used to k-mart serving low to middle income people: marketing: a disciplined process used by organizations to solve business problems. Low-priced competitors are coming in with cheaper goods. It"s becoming more and more hard to differentiate. 1: identify opportunities: which opportunities to take/business to enter or exit. Marketing is key in discovering this: ex: smucker"s bought folgers coffee, and other food brands to expand. 2: segment and target markets: segment and choose which customer segments to serve. 3: develop a marketing strategy: use marketing mix to differentiate and be unique. 4: implement the marketing strategy: the rest of the organization needs to implement/execute the plan as well so marketing has to incorporate other functions of a business. 5: assess and innovate: review and innovate the plan.
