MKTG 4100 Chapter Notes - Chapter 6: Market Saturation, Intime, Marketing Mix
12 Dec 2015
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Communicating: market positioning strategy stated in marketing plan; guides each of the four marketing program development phases (product, price, distribution, marketing communication) Considering options: firms should look at all combinations of product, price, distribution possible; combinations must be feasible; ensures the company does not miss a market opportunity. Package of benefits: value offering to the selected target market; market research and experience must back up choices. Strategic marketing plan: guide for specific marketing programs and policies; evolves from corporate strategy; necessary for firms that want to exchange goods and services successfully in the market. Positioning: art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition. Competitive space: can be found using perceptual maps; managers can determine the brand positioning strategy using the relevant dimensions of competing within a certain space.
