MKT 100 Study Guide - Midterm Guide: Self-Actualization, Philosophical Perspectives, Corporate Social Responsibility

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Gennadi Gevorgyan

Document Summary

Distribution (how to get access to wider range of products) Imc (intergrated marketing communications) coordinate all tools: sales promotion, personal selling, public relations/ publicity, direct marketing, electronic media. Some aimed at distribution channels some aimed at end user. Marketing strategy = marketing mix + target market. Social trends / cultural values = purchase patterns. Goals = check opportunities align with them. Products (lifecycle) = introductory, growth, maturity, decline. Experience = new (mistakes), find ceo with experience. Culture = productivity and creativity of employees. Resources = financial (budget), human (right employees), operational. Market penetration: new applications and increase usage of current product, marketing mix change, recruit consumers from competitors. Market development: change to mix, distribution, pricing, used when saturated. Product development: new to replace existing, or enhance old product with innovative features, growing markets, rapid changing tastes, Diversification: risky, build on assets, (banks going to insurance) or completely new. Oligopoly: few sellers, sensitive to prices, focus on features.