MKTG 301 Marketing Strategy selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets Marketing Opportunity Analysis MOA description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors d Target Market Strategy Segment the market based on groups with similar characteristics Analyze the market based on attractiveness of similar markets 4 P s Marketing Mix Product Place Promotion Pricing Product Physical unit Package Warranty Service Brand Image value Place Where and when customers want products All activities from raw materials to finished products Ensure products arrive in usable condition Promotion Inform Educate Persuade Reminding Advertising Price What a buyer must give up to obtain a product Most flexible Chapter 3 Determinants of a Civil Society Methods of Social Control Laws Formal and informal groups Self regulation The media An active civil society Ethical Behavior the moral principles or values that generally govern the conduct of an individual or a group Ethical Development Levels Pre conventional More Childlike Conventional Post conventional More Mature Code of Ethics Helps identify acceptable business practices Helps control behavior internally Avoids confusion in decision making Facilitates discussion about right and wrong
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