EN.660.100 Study Guide - Final Guide: David Aaker, Income Statement, Peter Drucker

• School: JHU
• Department: EN Center for Leadership Education, EN Entrepreneurship and Management
• Course: EN.660.100
• Professor: Aronhime

Document Summary

Marketing: the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges. Prabhu guptara 6 marketing activities: identify customers" needs, determine best product strategy, ensure effective distribution, inform customers, determine prices, ensure quality. 3 steps in marketing process: understand marketplace, design customer-driven market strategy, and construct programs build relationships. Customer relationship management: the overall process of building/maintaining profitable customer relationships by delivering superior customer value and satisfaction. Purpose of marketing is to generate customer value profitably. 5 major areas of analysis: customer needs, company skills, competition, collaborators, and context. Marketing strategy involves 2 major activities: (1) selecting a target market and determining the desired positioning and (2) specifying the plan for the marketing activities to achieve the desired positioning. Market myopia is the mistake of paying more attention to specific products they offer than to benefits and experiences produced.