M2 Flashcards
Marketing management process
- Market Planning
- Implementing marketing plans
- Control marketing plans
Marketing planning consists of
- setting objectives
- evaluating opportunities
- creating marketing strategies
- preparing marketing plans
- developing marketing programs
control marketing plans and programs consists of
- measuring results
- evaluating progress
What are the 4Ps
- price
- product
- place
- promotion
T/F 4Ps or the targeting mix is uncontrollable
False, it is controllable
is the group of customers the company want to appeal
target market
Marketing Strategy is ___
planning opportunities
sees everyone as basically similar and practices “mass marketing”
production-oriented manager
sees everyone as different and practices “target marketing”
marketing-oriented manager
T/F When thinking of the Marketing mix, the target market must be taken into consideration
TRUE
T/F In marketing mix, price is more important
False, Marketing mix are all interconnected and equally important
T/F Marketing mix must be determined/done all at the same time
True
Target Market + Marketing Mix
Marketing strategy
Marketing Strategy + Time-Related Details
Marketing Plan
Marketing Plan + Other Marketing Plans
A Firm’s Marketing Program
Tool to assess the current status of the organization
SWOT
SWOT stands for?
strength, weaknesses, opportunities, and threats
What are the internal?
- company
- strength and weaknesses
What are the external?
- customer
- competitors
- opportunities and threats
Increasing sales in an existing market with existing products
Market penetration
Introducing new products to an existing market
Product development
Entering new markets with existing products
Market development
Launching new products in new markets
Diversification
