MKTG3118 Chapter Notes - Chapter All: Allocative Efficiency, Capitalism, Sweatshop
Document Summary
Resource based view, porter"s five forces and positioning model frameworks for this course. Chapter 1 marketing and the concept of planning and strategy. Marketing concept approach directs the marketer to develop the product offering, and entire marketing program, to meet the needs of the customer base. Goal of this approach is to sense and respond strategically to consumer information. Systems approach instructs the marketer to view the marketing process holistically and view product not as an individual entity but as just one aspect of the customer"s total need- satisfaction system. Environmental approach marketing decision maker as the focal point of numerous environment within which the firm operates and that affect the success of the firm"s marketing program (pest) Mckinsey & company"s 5 global forces causing strategic marketers to question their assumptions: Emerging markets as the centres for consumerism ad innovativeness. The necessity to improve developed market productivity. The tension between rapidly rising resource consumption and sustainability.
