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| activity for creating and delivering offerings that benefit the organization, its stakeholders, and society |
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1. discover needs and wants
2. satisfy them |
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| trade of things of value between buyer and seller so that each is better off |
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| Uncontrollable social, economic, technological, competitive, and regulatory forces |
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| people with desire and ability to buy a specific offering |
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| specific group of potential consumers |
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Controllable factors:
Product
Price
Promotion
Place |
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| buyers' benefits. quality, convenience, on-time delivery, before-and-after sale service |
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linking the organization to its individual customers.
Mutual long-term benefit |
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| plan that integrates the marketing mix to provide a good/service, or idea to buyers |
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1960
satisfy the needs of consumers
achieve goals |
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-continuously collecting information
-sharing information
-using it |
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| Societal Marketing Concept |
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| satisfy the needs of consumers in a way that provides for society's well-being |
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| are the people...who use the G/S purchased for a household |
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| are those industries that buy G/S for their own use or for resale |
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| benefits or customer value received by users of the product |
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| having the offering available where consumers need it |
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| having it available when needed |
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| value of making an item easy to purchase |
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| long-term course of action |
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principles that guide its conduct over time
-timeless and should not change due to short-term financial concerns |
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| statement of vision of an organization's function in society |
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| set of values, ideas, attitudes, and behavioral NORMS that is learned and shared among the members of an org. |
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| solution provider: help provide utility |
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| targets of performance to be achieved |
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| ratio of a firm's sales to the total sales of all firms in the industry |
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visual display of the essential info.
-metrics |
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| a measure of the value or trend |
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| top mgmt directs over all strategy for the firm |
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Strategic Business Unit
-subsidiary, division, or unit of an org that markets a set of related offerings |
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| managers set a more specific strategy direction for their business to exploit value-creating opportunities |
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| groups of specialists actually create value for the firm. |
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| organization's special capabilities-- skills, technologies, and resources |
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| unique strength relative to competitors |
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Boston Consulting Group
management consulting firm |
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generate large amounts of cash.
dominant shares of slow-growth markets |
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High share of high-growth markets
need extra cash to finance |
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low share of high-growth markets
require large injections of cash |
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low shares of slow-growth markets
do not hold promise |
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| tool that helps a firm search for growth opportunities from among current and new markets. |
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current products
current market |
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current products
new market |
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new products
current market |
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| Situation (swot) analysis |
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| taking stock of where a firm or product "has been", "where it is now", and "where it is headed" |
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| strengths, weaknesses....opportunities, threats |
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| sorting potential buyers into groups |
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| characteristics of a product that make it superior |
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| Four components of the implementation phase |
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obtaining resources
designing the market organization
developing planning schedules
executing the marketing program |
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| day-to-day operational decisions |
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| acquiring information on events outside the organization to identify and interpret potential trends |
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-demographic shifts
-cultural changes |
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-macro conditions
-consumer income |
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-changing
-impact on consumer value
-electronic business |
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-alt forms of competition
-small business |
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-laws protecting competition
-laws affecting market mix actions
-self-regulation |
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unique aspects of different races
can't assume anything about people |
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| after we pay bills, whats left over |
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| after we spend our "play" money, whats left over |
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