Harvard Business School 9-598-061 Rev. November 1, 2000 D Note on Marketing Strategy O Long ago, Peter Drucker wrote that any business enterprise has only two basic functions: marketing and innovation.1 All else, he implied, was detail. The central role of marketing in the enterprise stems from the fact that marketing is the process via which a firm creates value for its chosen customers. Value is created by meeting customer needs. Thus, a firm needs to define itself not by the
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Table of content Page no (P1- Marketing definition----------------------------------------------------------------------- 2 (P2- characteristic of marketing oriented organisation. ------------------------------------ 2 (P3- Marketing concept. ----------------------------------------------------------------------- 3 (P4- Benefits & Costs of a Marketing Approach ------------------------------------------ 4 (P5- Micro and Macro environment factors affecting business. --------------------------
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D1 Evaluate and Justify the use of an appropriate promotional mix in relation to the marketing objectives for the selected organization THE PROMOTIONAL MIX STRATEGY-Heineken Heineken has designed an intelligent promotional mix strategy that reflects a prudent thought process behind its campaigning. Heineken has successfully managed to achieve a vital role in the routine life of social events and its progress lies in the success of its creatively devised promotional strategy. In this assignment
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framework of an environmental analysis for the groundwork of a future marketing plan. The central argument is that; (A) the economic environment offers an overall attractive outlook, (B) the cultural environment requires Nike, Inc., to change their core product portfolio while continuously learning to customize and localise to the needs of the Indian consumer, (C) The political environment does not have a substantial risk impact in both its historical and current outlook, and the government is heavily
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CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle, Coca-Cola, and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing, R&D, manufacturing, and other activities comprise a firm’s value chain; firms configure activities to create superior customer value on a global basis. Global companies
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Marketing Principles Lecture Notes 31/7/2014 Marketing Process Create value for customers and build customer relationships Capture value from customers in return 1. Understand the marketplace and customer needs and wants. 2. Design a customer driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture Value from customers to create profits and customer equality Create value for customers
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consumer. A firm needs to analyze buying behavior for: * Buyers reactions to a firms marketing strategy has a great impact on the firms success. * The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. * Marketers can better predict how consumers will respond to marketing strategies. Stages of the Consumer Buying Process Six Stages to the Consumer Buying
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1. Marketing- An organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customers relationships in ways that benefit the organization and it stakeholders. 2. Marketing Plan- A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income
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Marketing Mix MKT/421 Marketing Mix The marketing mix plays a vital role in the growth and survival organization. The Four P’S are known as the Marketing Mix, which is consisting of the following: Product A product is often created to fill a particular need in the marketplace. The product is the combination of all the contacts between the market and the marketer, through which goods are sought and purchase. At various point in the life cycle of a product, various marketing
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Chapter 1 Marketing – the process of creating distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment. The essence of marketing is to develop satisfying exchange relationships from which both customers and marketers benefit. CUSTOMERS & TARGET MARKET • Customers ‐ the purchasers of organizations’ products; the focal
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