...Marketing Midterm Essay Study Guide Norm Govoni Possible Essay Topic #1: Marketing Strategy 1. Marketing Mix a. 4 P’s (Product, Price, Place, Promotion) b. 4 C’s (Choice, Cost, Conveyance, Communication) 2. Target Market c. “Those whom a business chooses to serve” (i.e. the “heavy user”) d. Very different than the overall market (set of all actual and potential customers of a given product/service) Possible Essay Topic #2: The Core Concepts of Marketing “The consumer has needs, wants, and demands and goes to the marketplace to obtain products and services through exchange, relationships, and transactions to gain quality, value, and satisfaction.” 1. Needs, Wants, and Demands a. A need is a state of felt deprivation, a condition requiring relief. b. A want is the form a need takes as shaped by culture and individual personality (i.e. a preference) c. A demand is a want backed by buying power 2. Products and Services d. A product is anything that can be offered to a market for attention, acquisition, use, consumption, or experience and that might satisfy and need or want (can be an individual, organization, place, idea, or thing) e. A service is an activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything 3. Value and Satisfaction f. Customer value is the difference between benefits and costs g. Customers typically do not...
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...Principles of Marketing Midterm Exam Part 2 1. What is the American Marketing Association’s (AMA) definition to marketing and what does marketing entail? Marketing is the process of planning and implementing the origin, pricing, promotion and distribution of ideas, goods and services to create exchanges that fulfill individual and organizational objectives. More informally, Marketing is said to be a business function dealing with customers and managing profitable customer relationships. This is, trying to get to the customer in the best and most efficient and effective way in order to create a perception of a product in the customers mind. For example, when you think of Nike the initial association that comes to mind is the Nike check. Furthermore, ASA College has associated itself with the color purple. In addition, the goal of marketing is delivering satisfaction, and drawing in new customers by promising better deals than that of competitors. 2. What is the difference between planning, strategic planning, and marketing planning? Planning is thinking about and organizing the activities required to achieve a desired goal. Planning involves the creation and maintenance of a plan. As such, planning is a fundamental property of intelligent behavior. Strategic Planning is an extensive process that addresses a business, or a portion of the business such as marketing. Marketing strategies derive from strategic plans. To understand the relationship between the two, it's...
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...The Marketing Strategy for Cialis’ Launch Target Market: Before selecting a target market for Cialis’ launch, Lilly ICOS needs to determine whether to market the product to mainstream or a niche market. Currently, Viagra is the only ED treatment drug in the market and 9 million men have used the drug. Pfizer has spent $108 million on advertising in 2000 and the product is generating over $1 billion in sales each year. These facts show that as a first-to-market drug, Viagra is marketed to all the ED patients and successfully established brand dominance in the industry. Moreover, physicians are generally content with Viagra and are not easily willing to switch prescriptions. Full-out marketing to the mainstream would be present more risk than return for Lilly ICOS. Therefore, it would be best for Cialis to focusing specifically on a niche group of patients and monitor how physicians and patents respond to Cialis after its new introduction in order to determine whether to go broad later on. There are many different possible segmentation options, such as age, education, annual income, marital states, income, and habits used to treat ED. In terms of age, men of age 40 and up show lower percentage of not willing to take drugs for ED condition. Men in this age group could also more easily afford treatments and are less likely to be waiting for the condition to go away. As of educations and annual income, patients in the United States are most educated therefore potentially more...
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...Marketing Management MM 1-2013 1 “Midterm Review” By: cherriie.cherry* :) Chapter 1 defining mkting Marketing – set of activities that create value in order to satisfy customer & make profit to co. Demand states 1. Negative – Find other ways to change cus. attitude (design, price, more promotion) i.e. insurance 2. Nonexistent- donno, never thought about it i.e. health checkup - find way to connect benefits with personal’s natural needs 3. Latent – product can’t satisfy cus need i.e. cars- more efficient / food- low calories - measure mkt potential & develop efficient good & service to satisfy demand 4. Declining – sales drop, buy less frequently i.e. กระเช้ าbrand ทาไงก้ ได้ ให้ sales เพิ่ม เช่น -product development change product features -mkt development new target mkt - find new way of use, more effective communication, sales pro 5. irregular- purchase vary on season i.e. hotels/cinema/ restaurant - Smoothen demand sales pro, flexible pricing, other incentives - Low season- low price 6. Unwholesome- cigarette/alcohol Demand for unethical product- reduce habit by use fear communication/ price hikes/ reduce availability - cause dissatisfaction i.e. บุหรี่ ที่ USA รณรงค์ให้ คนสูบน้ อยๆ เพื่อให้ เป็ นลูกค้ ามันไปได้ นานๆ (อย่าเพิ่งรี บตาย) 7. Full – no surplus/shortage demand=supply /Buying amount=amount produce - maintain demand 8. Overfull- demand > supply Reduce demand temporarily/permanently “demarketing” i.e. เด็กในห้ องเยอะ อาจารย์เก๊ กดุ forceให้ เด็กออกจากsec ...
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...LABUAN SCHOOL OF INTERNATIONAL BUSINESS AND FINANCE UNIVERSITI MALAYSIA SABAH – LABUAN INTERNATIONAL CAMPUS PRINCIPLES OF MARKETING (GT00803) SEMESTER 2 2014/2015 1. COURSE SYNOPSIS Kotler et al (2014) states that marketing is about creating customer value and building profitable customer relationships. It begins with the understanding of customer needs and target markets, designing customer-driven marketing strategies and programs, building customer relationships and capturing value for the firm. This module offers students with basic understanding of the marketing theory and concepts from a global perspective and application of soft skills among them throughout the assessments and later apply them in the real world. 2. COURSE OBJECTIVES The course is aimed at: ▪ Providing students with fundamental knowledge about marketing concepts from a global perspective ▪ Developing or enhancing analytical thinking, problem solving and basic marketing skills ▪ Promoting the importance of teamwork ▪ Enhancing leadership skills ▪ Improving interpersonal skills 3.0 LEARNING OUTCOMES Upon successful completion of the course, students should be able to: ▪ apply basic understanding of marketing theories and concepts into the real world of business ▪ function as an individual and produce synergy within a team ▪ communicate effectively with other profesionals and business communities; act in their capacity as a leader and manager in their...
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...Jennifer Brown jmbrown6@pipeline.sbcc.edu Online and Mobile Marketing MKT 164/MAT 164 Welcome to Online Marketing! MKT 164 and MAT 164 are the same course. Required Material Internet Marketing: Integrating Online and Offline Strategies, 3rd ed. Roberts and Zahay (Cengage Publishing, 2012). You can purchase your book online or at the SBCC bookstore. Overview The course will address critical components needed to develop effective online and mobile marketing strategies. Emerging digital and mobile advertising developments are emphasized. With successful participation, students will be able to apply online and mobile media as a strategic tool. Background and Format of the Course Recent events continue to highlight the importance of the Internet as a global communications medium. As a business communications and transactions channel the Internet has achieved stature equal to that of traditional broadcast and print media. Among the important realities of the Internet as a business medium/channel are: • • • • • • • The Web challenges many aspects of conventional economic wisdom. It provides marketers with several important capabilities not present in most other media including interactivity and measurability. Social media have rapidly assumed a preeminent role on the Internet. Mobile communications are the norm for many people and provide another important channel for marketers. Marketing programs and business enterprises must integrate activities in...
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...Fall 2013 International Marketing(4545) Course Syllabus 1 Contact Information Instructor Mobile phone E-mail Course webpage Ok Yeon Pyo 010-9150-8780 nanospeed@naver.com http://blog.naver.com/nanospeed Feel free to send me an e-mail with any questions about the course or if you want to arrange an appointment. 2. Course Requirements and Grading The course grade is based on Absolute Rating. The final grade will be determined using the following weights: ① Attendance 15% Students are expected to attend class and participate in discussions, unless prevented by sickness or some other legitimate circumstances. Missing class will affect your overall understanding of marketing communications and will have a strong negative impact on the participation portion of your grade. If you know beforehand that you will miss a class, please notify me in advance. Any absence without leave won't be permitted. ② Exam 70% (midterm 35% + final 35%) This is an in-class essay exam covered throughout the entire course. The mid range is excluded from the final exam. No makeup exam will be given. Material to be covered during the exam will be announced at least one week before the exam. ③ Team Project 15% Each student is required to participate in individual or team presentation. The presentation should be conducted in English through PPT format. There’re no restrictions at all except time compliances. It should be finished within 20 minutes. 3. Course Schedule week 1 (09/03) week 2 (09/10)...
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...201: Principles of Marketing Section – 2, 5 [“Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.” ― Philip Kotler]. |Section |DAYS |TIME |Room No | |2 |Mon & Wed |09:30 - 10:50 |UB20203 | |5 |Mon & Wed | 03.30 - 04.50 |UB20203 | Instructor: Rahma Akhter Office : UB20605 E-mail : rahma.akhter@bracu.ac.bd Phone : 01817530917 Consultation Hours |DAY |TIME |ROOM |HOURS | |Sun & Tues |12:30-01:50 |UB 20605 |3 | |Sun & Tues |02:00-03:20 |UB 20605 |3 | |Mon & Wed |11:00-12:20 |UB 20605 |3 | |Mon &Wed |12:30-01:50 |UB 20503 |3 | I. RATIONAL: This course introduces the students to the world of marketing. Starting off with the key concepts of marketing, the course is also a survey of the marketing function of the organization, including the marketing environment and target markets, marketing strategy with emphasis on the marketing mix and social and ethical responsibilities of marketing. II. SPECIFIC...
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...COURSE OUTLINE CENTRE FOR HOSPITALITY AND CULINARY ARTS COURSE NAME: Restaurant Marketing Leadership COURSE CODE: HOST 1058 CREDIT HOURS: 42 Hours PREREQUISITES: None COREQUISITES: None EFFECTIVE DATE: January 2013 PROFESSOR: Andy Hickl-Szabo PHONE: N/A EMAIL: ahickl@georgebrown.ca PLAR ELIGIBLE: YES ( ) NO ( x ) NOTE TO STUDENTS: Academic Departments at George Brown College will NOT retain historical copies of Course Outlines. We urge you to retain this Course Outline for your future reference. EQUITY STATEMENT: George Brown College values the talents and contributions of its students, staff and community partners and seeks to create a welcoming environment where equity, diversity and safety of all groups are fundamental. Language or activities which are inconsistent with this philosophy violate the College policy on the Prevention of Discrimination and Harassment and will not be tolerated. The commitment and cooperation of all students and staff are required to maintain this environment. Information and assistance are available through your Chair, Student Affairs, the Student Association or the Human Rights Advisor. George Brown College is dedicated to providing equal access to students with disabilities. If you require academic accommodations visit the Disability Services Office or the Deaf and Hard of Hearing Services Office on your campus. STUDENT RESPONSIBILITIES: Students should obtain a copy...
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...MBA 6050 Marketing Management and Strategy College of Business Administration Bowling Green State University Spring 2014 Instructor: Dr. David A. Reid Phone: (419) 372-3410 Office: 285 Business Administration Building Fax: (419) 372-8062 E-Mail: dreid@bgsu.edu Class Hours: MW 1:30 - 2:45 p.m. (in BA116) Office Hours: MW 12:30 - 1:15 p.m.; 3:00 – 4:15 p.m., and other times by appointment “Marketing…is the whole business seen from the point of view of its final result, that is, from the customer’s point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.” - Peter F. Drucker, People and Performance, 1977 Required Textbook • Managing Marketing in the 21st Century: Developing and Implementing the Market Strategy, 3rd ed., by Noel Capon (www.axcesscapon.com, 2012). Available through www.axcesscapon.com (as a PDF file or in paperback), as well as Amazon.com or BN.com in either paperback or electronic format and in paperback through the University Bookstore. Required Cases • Harvard Business School Cases: listed in course outline. Cases are available for purchase online through Harvard Business School Press (Coursepack Link for purchasing cases listed below with list of cases). Introduction and Overview In their never-ending search for the ultimate secret to business success, many businesses continue to overlook the most fundamental premise of all business. While their search for...
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...BUSML 4202 Midterm 1 review What is marketing? The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA) Marketing Research: a means to implement the marketing concept MR is a systematic and objective process of generating information for aid in making marketing decisions. Need to reduce uncertain. Helps focus decision making 4P’s: product, price, promotion, distribution (placement) Three roles of MR: 1. Descriptive role: gathering statements of fact(s) 2. Diagnostic/explanatory role: explaining effects of marketing mix actions or data 3. Predictive role: predicting the results of a planned marketing decision Two types: Applied vs Basic (pure) research Value of MR: • Decreased uncertainty • Increased likelihood of a correct decision • Improved marketing performance and resulting higher profits Step 1: An easy mistake: a symptom is not the problem; a symptom occurs as a result of a problem (‘the iceberg principle’ ) Marketing research Problem (MRP): Asks what information is needed; Information oriented; Focuses on the underlying causes. Management decision Problem (MDP): Asks what the decision...
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...Midterm assignment Your company is going to open a fast food restaurant in Hanoi. The Chief Marketing Officer requires you to draw up a Marketing Plan. Suggested content: ------------------------------------------------- EXECUTIVE SUMMARY Brief summary of the main goals, main elements of the plan, and recommendations, helping top manager find the plan’s major points quickly ------------------------------------------------- SITUATION ANALYSIS Your situation analysis should comprise the following: COMPANY ANALYSIS Mission Statement Marketing Objectives ENVIRONMENTAL ANALYSIS Describe the macro environmental trends that affect the market. Present the nature of the effect, and include only those forces that are relevant to the market. SWOT ANALYSIS With respect to the company chosen, identify: (a) Strengths (internal) (b) Weaknesses (internal) (c) Opportunities (external) (d) Threats (external) When all four areas of the SWOT have been identified, there must be a decision about what each item means, and what actions are needed to enhance or deal with each item. COMPETITOR ANALYSIS Identify direct and indirect (substitute products) competitors for your selected company. Select two direct competitors, and assess their strengths and weaknesses relative to your brand ------------------------------------------------- MARKETING STRATEGIES SEGMENT ATION, TARGETING, POSITIONING Use of one or more of the following variables as segmentation criteria: ...
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...For the week 4 lecture, we first reviewed the breakdown of the Final Exam which is going to be a similar breakdown as the Midterm exam. Then, the focus of the class was going over more practical aspects of marketing. The lecture was focused on the three case studies about Costco, Dove, and L’Oreal which was very interesting. First off in discussing Costco and after reviewing the case study their mission is to always provide great quality goods and services at the lowest prices possible. Costco, over the years has continued to provide quality manufacturers together to give great products to their customers. According to the reading, in comparison to stores such as Wal-Mart that has up to 150,000 SKUs, Costco has 4,000 SKUs that they focus on because they only provide the fastest –selling flavors, sizes, models and colors. Overall, their business model focuses on a high volume of sales, rapid inventory turnover, very low prices, and better product manageability. Costco has such a great business model because they work with manufacturers directly which cuts out the middle man and also creates a more efficient process. It also eliminates many additional costs having to use a distributor. I found it very interesting that of Costco’s 4,000 SKUs, 3,000 of them come from Staples and the rest from the the Costco “Treasure Hunt” of special temporarily offered items. I did not realize that this was the case for Costco but it has proven to be very successful because Costco is able to provide...
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...COURSE STUDY GUIDE OF MARKETING MANAGEMENT DEPARTMENT OF MARKETING Course Outline for Fall Semester 2014 Course Title :Marketing Management Course Code : Number of Credits :3 Instructor :MehwishZafar Office Hours : Thursday 12:00-2:00 Office : Faculty Room Email : zafar.m@iuk.edu.pk Course Objective In this course, students develop a critical appreciation of the basic concepts and techniques of marketing management and strategy with an emphasis on creating customer value and building customer relationships. The course develops concepts and skills necessary for marketing decision-making and illustrates how various decision-making tools apply to actual business situations. The goal of this course is to develop a disciplined process for addressing marketing issues and problems in a variety of settings, and to give students the tools and background necessary to think through marketing problems. Student Email Criteria - ‘Netiquette’ In business, as with course related correspondence, e-mail is regarded as a professional means of communication. Proper sentence structure, capitalization, and punctuation are required. Proper information must be included within each e-mail: Include the course number in subject line Make sure your name is on any attachment you mail me. I often will print them out, and then I don’t know from whom they came. For all online communication, proper “netiquette” is expected: correct spelling, correct grammar, proper formatting (avoid all caps and overuse...
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...MGT 521 WEEK 2 To purchase this visit here: http://www.activitymode.com/product/mgt-521-week-2/ Contact us at: SUPPORT@ACTIVITYMODE.COM MGT 521 WEEK 2 week 2 complete 1- Complete the Effective Research and Writing at University of Phoenix Module. Save a screen shot of the completion screen as a Microsoft Word document on your computer once you finish the module. Click the Assignment Files tab to submit your assignment 2- Navigate to the My Career Plan in Phoenix Career Services. Complete the Career Plan Building Activity: Work Culture Preferences. Note. Access to Career Plan Building Activity: Work Culture Preferences is only available after you complete the Career Plan Building Activity: Competencies. Write a paper of no more than 350 words discussing the results of your Career Plan Building Activity: Work Culture Preferences and Competencies. Reflect on your results. How can knowing your ideal work culture help you in developing strategic and operational plans to achieve organizational goals? Which competencies are essential to conducting a strengths, weaknesses, opportunities, and threats (SWOT) analysis? How do your competencies relate to the essential competencies for conducting a SWOT analysis? Click the Assignment Files tab to submit your assignment. 3- You have decided to pursue an MBA degree either to further your career, start a new career, or achieve a personal goal. In this program, you will study the functional areas of business. ...
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