SMG MK 323 Study Guide - Midterm Guide: Integrated Marketing Communications, Customer Service, Marketing Mix

• School: Boston University
• Department: Marketing
• Course: SMG MK 323
• Professor: Jonathan Hibbard

Document Summary

Ideas include, thoughts, opinions and philosophies; intellectual ideas such as these can also be marketed: price/capturing value: e(cid:448)e(cid:396)(cid:455)thi(cid:374)g has a p(cid:396)i(cid:272)e although it does(cid:374)"t al(cid:449)a(cid:455)s have to be monitory. Chapter 2: developing marketing strategies and a marketing plan. Multiple sources of advantage fi(cid:396)(cid:373)s (cid:396)e(cid:395)ui(cid:396)e (cid:373)ultiple app(cid:396)oa(cid:272)hes to (cid:271)uild a (cid:862)(cid:449)all(cid:863) around their position that stands as high as possible. Implementation phase: marketing managers identify different opportunities by engaging in the process known as segmentation, targeting and positioning (stp). The reasons performance may be above or below planned levels must be examined: performance objectives and metrics: o(cid:374)e app(cid:396)oa(cid:272)h is to (cid:272)o(cid:373)pa(cid:396)e a fi(cid:396)(cid:373)"s performance using common financial metrics such as sales and profits. Another (cid:373)ethod of assessi(cid:374)g pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e is to (cid:448)ie(cid:449) the fi(cid:396)(cid:373)"s p(cid:396)odu(cid:272)ts o(cid:396) se(cid:396)(cid:448)i(cid:272)es as a po(cid:396)tfolio. Unrelated diversification does(cid:374)"t capitalize on either core strengths associated with the market or with products. A market environment analysis framework: factors that affect the marketing environment.