MKTG 301

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  1. Image Upload
    • 1. Star
    • 2. Cow
    • 3. ?
    • 4. Dog
  2. Define 'marketing':
    Process by which companies create value for customers and build relationships in order to capture value from customers in return
  3. Makreting Concept:
    Acheiving goals relies on knowing customer needs & wants
  4. Seeling Concept (approach taken)
    inside-out

    (Marketing Approach is outside-in)
  5. Customer Demands
    Wants backed by buying power
  6. Marketing Myopia
    When a company is so smitten with it's product it loses sight of customer needs
  7. Marketing Management
    art and science of choosing target markets and building profitable relationships with them
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    1. Customer Wants

    2. Society (Welfare)

    3. Profits
  9. Marketing Environment (5 c's)
    • Company (micro)
    • Competitors (micro)
    • Collaborator (micro)
    • Customer (micro)
    • Context (macro)
  10. Marketing Strategy (PTSD)
    • Positioning
    • Targeting
    • Segmentation
    • Differentiation
  11. Marketing Implementation (4 P's)
    • Product
    • Price
    • Place
    • Promotion
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    • 1. Market Penetration
    • 2. Product Development
    • 3. Market Development
    • 4. Diversification
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    • 1. Strengths
    • 2. Weaknesses
    • 3. Opportunities
    • 4. Threats
  14. Stategic Planning - Mission
    What firm is all about; Long-Term strategy of firm

    ex: Be best in customer service
  15. Strategic Planning - Objectives (M&B)
    Short Term coroporate goals (measurable)

    Marketing: reputation, martket share, quality,

    Business: Profit Level, ROI, Growth
  16. Marketing Research Process (P-R-C/A-I)
    • 1 Define Problem
    • 2 Research
    • 3 Collect/Analyze date
    • 4 Interpret findings
  17. Marketing Process #1 (P)
    I.) Exploratory - suggest hypothesises to problem

    II.) Descriptive - describe/understand problem better

    III.) Causal - test hypo about cause & effect
  18. Marketing Process #2 (R)
    I.) Secondary Data - info provided by other

    II.) Primary Data - collected by firm
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    • 1. Big ticket items
    • 2. Cheap items
    • 3. Serves Individual Needs
    • 4. Economies of Scale
  20. Product Differntiation
    • Based on differences
    • Provide perceived value
    • Diffivult to copy
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    1.) Design, Features, Brand

    2.) After Sale services, warranty
  22. Product Life Cycles (DLGMD)
    • Development
    • Launch
    • Growth
    • Maturity
    • Decline
  23. Product Length
    # of products in a line
  24. Product Line Adjustments
    Fill/Stretch - Downward/Upward
  25. CLV: [ m / (1-r + ir) ] -AC
    • m = margin
    • r = retention rate
    • i = discount rate
    • AC = acquistion costs
  26. CLV Short Term
Author:
rjfisher
ID:
112974
Card Set:
MKTG 301
Updated:
2011-10-29 19:53:25
Tags:
marketing
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Description:
Marketing 301 Midterm #1 - UW-Seattle
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