BUAD 307 Study Guide - Midterm Guide: Relationship Marketing, Retail, Marketing Mix
Document Summary
Core aspects of marketing: seeks to satisfy customer needs and wants, entails exchange, creates value through product, price, place, and promotion decisions. Marketing channel management/supply chain management: can be performed by individuals & organizations. Chapter 2: developing marketing strategies & a marketing plan. 4 macro strategies to create value & sustainable competitive advantages. New digital era marketing mix the five p"s. Chapter 3: digital marketing - online, social & mobile. All activities involved in creating, communicating, delivering, and exchanging value. This includes product development, pricing, promotion, and distribution. Providing after-sales support to consumers to retain their business. Gathering customer feedback to gauge customer satisfaction. Cmo tenure (holding of job): shortest of c-suite execs. New markets have emerged, such as the one for reusable water bottles. Bulky bright-red thermos seemed childlike and awkward, so companies took the bottles they had been supplying to mostly professional sports teams and created a thinner, more consumer-friendly version.
