MKTG 373 Chapter Notes - Chapter 2: Mass Marketing, Marketing Mix, Target Market
Document Summary
Marketing management process: planning marketing activities, directing the implementation of the plans, controlling these plans. Strategic (management) planning: the managerial process of developing and maintaining a match between an organization"s resources and its market opportunities. Marketing strategy: target market: a fairly homogenous group of customers to whom a company wishes to appeal, marketing mix: the controllable variables the company puts together to satisfy this target group. Target marketing: a marketing mix is tailored to fit some specific target customers. Rifle approach. not limited to small market segments; only to fairly homogenous ones. Mass marketing: the typical production-oriented approach; vaguely aims at everyone with the same marketing mix. Assumes that everyone is the same, considers everyone a potential customer. Channel of distribution: any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer. Mass selling: communicating with large numbers of customers at the same time.
