COMM 296 Study Guide - Midterm Guide: Focus Group, Swot Analysis, Virtual Community
Document Summary
Product: creating value: develop a variety of g/s to satisfy customer needs. Price: capturing value: combination of consumer satisfaction and profit. Place: delivering the value proposition: effective supply chain management. Promotion: communicating the value proposition: marketers persuade potential buyers. Becoming more value driven: share info about their customers/competitors across their own organization and with other firms, balance consumers" benefits and costs, concentrate on building relationships with customers, customer rel. Management (crm): philosophy that focuses on identifying and building loyalty among the firm"s most valued customers: take advantage of new technologies. Chapter 2: 39-42: portfolio analysis stop at growth strategies . Market share: % of a market accounted for by a specific entity. Relative market share: product"s strength in a particular market. Market growth rate: annual rate of growth of the specific market in which the product competes. Chapter 5: 83-99; all: analyzing the marketing environment. Culture shared meanings, beliefs, morals, values, and customs. Demographics age, income, education, gender, ethnicity, etc.
