BUSN 1101 Chapter Notes - Chapter 9: Marketing Strategy, Marketing Mix, Consumer Behaviour

• School: Northeastern University
• Department: Business Administration
• Course: BUSN 1101
• Professor: All

Document Summary

Marketing includes: coming up with a product and defining its features and benefits. Delivering it to people who buy it. Managing relationships with customers after it has been delivered. Marketing strategy: selecting a target market. Identify market as consumer market(buying for personal use) or industrial market(buying produce for use in other products) Marketers generally begin by looking at secondary data. Then with secondary data in hand, they"re prepared to collect primary data-newly collected info that addresses specific questions. Methods for collecting primary data include surveys, personal interviews, and focus groups. (focus groups bring a group of indivudals together and asks them questions. A discussion is conducted and at the end you can gain insight on customer responses. A brand is a word, letter, sound, or symbol that differentiates a product from its competitors. Private branding: a company that makes a product and tells it to a retailer who in turn resells it under its own name.