Intro to Marketing Final Review

1. pardon the importance of the market mix. Product Price procession Place 2. let on and analyze the selling management functions. Developing marketing strategies and plans Capturing marketing insights Connecting with customers Building strong brands Shaping marketing offerings Delivering value communication value Creating long term growth 3. Explain the elements of a marketing plan. Executive Summary Situation analysis market Summary target market Market Demographics Geographics DemographicsBehavior factors Market Needs Trends and Growth S. W. O. T. Analysis Strengths Weaknesses Opportunities Threats Competition Product Offering Keys to Success Critical Issues Marketing outline Mission Marketing Objectives Financial Objectives Target Markets Positioning Strategies Marketing incorporate Distribution Price Advertising and Promotion Customer Service Marketing Research Financials Breakeven Analysis Sales Forecast Expense Forecast Controls tax revenue Expenses Customer Satis faction New Product Development ImplementationMarketing organization Organization Chart Contingency Planning Difficulty and Risks Worst Case Scenario 4. Describe the stages of the proceeds life cycle. Introduction Growth Maturity Decline 5. Explain and analyze the advantages and disadvantages of entering international markets. Advantages Economies of scale in production and dispersion Lower marketing costs Power & Scope Consistency of blemish Image Ability to leverage good ideas, quality and efficiency unison in marketing process DisadvantagesDifferences in Consumer require, wants and use patterns for products Differences in chemical reaction to marketing elements Differences in trends and products Differences in the legal environment Differences in marketing institutions Differences in administration procedures 6. Explain the impact of e-commerce on the marketing functions. selective information more rapidly available Direct customer relationship easier to mystify Economie s of scale by leveraging advertising collaterals 7. Describe the new product development process Idea generation ScreeningIdea evaluation Development commercialisation 8. The adoption curve Innovators Early adopters Early majority Late majority Laggards or nonadopters 9. The consultative selling process Develop an understanding of needs Provide general benefit statement Ask questions Listen conservatively Agree on needs Discuss how to meet needs destruction sale Sometimes called the need-satisfaction approach 10. One value and flexible set policies One price Same price to all customers Flexible price Offering the same product and quantities to different customers at different prices.