MKT 702 Lecture Notes - Lecture 3: Sodium Bicarbonate, Guerrilla Warfare
30 Mar 2020
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Market-oriented strategic planning: a managerial process, develop and maintain a fit between, an organization"s objectives, skills and resources &, the changing opportunities in the marketplace. Mkt702 lecture 3 notes: discover solutions customers didn"t even know they had. Market challenger strategies: define the strategic objective (what are we trying to achieve) and opponents, choose a general attack strategy, choose a specific attack strategy. Market niche strategies: an alternative to being a follower in a large market is to be a leader in a small market, or niche. Growth-slump-maturity: sales grow rapidly when the product is first introduced, fall to a petrified level sustained by late adopters buying the product for the first time and early adopters replacing it. Mkt702 lecture 3 notes: example: a small kitchen appliance. What is loyalty: loyalty is a deeply held commitment to re-buy or repatronize a preferred product or service in the future, despite situational influences and marketing efforts having the potential to cause switching behavior.
