Part 1

18 terms by kchoyce2012 

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How to maintain a value for something with an oversupply?

By withholding supply; clever marketing; suckers with misplaced values?

How to double the marketing size for DeBeers

Establish a tradition for the other hand

The Troublesome 4

Tobacco, alcohol, gambling, guns

An industry dominated by younger people factors (3)

creativity, enthusiasm, hard work

4 strategies to drive web traffic (Ray-Ban)

engaging anthem web film. 5 directors short films interpreting "never hide", web photo gallery, downloads

Marketing

the set of human activities directed at facilitating and consummating mutually beneficial, long-term, exchange relationships

4 facts of economic life

firms compete for consumer's favor and operate to make a profit but this is not guaranteed, consumers are not forced to buy, caveat emptor- "let the buyer beware"

Firms basic approach to marketing

Bundle of satisfactions, marketing mix

Bundle of satisfactions

physical, functional, social, psychological

Marketing mix

Product, place, price, promotion

Marketing manager's task

to make optimal adjustments of factors under his or her control to factors beyond control

Uncontrollables

the market environment: individual costumers

Macro environments

natural, cultural, technological, economic, legal

Two controllables

the marketing mix, product placements

Immersion experience

forcing midlevel management to be more in tune with the consumers by working on ground level

(The marketing concept) Consumer Orientation- four needed steps

Generic need definition, target group evaluation, differentiation strategy, research commitment

Integrated Marketing

functional areas, mix elements, customer satisfaction

Brand image

a mental image reflects the way a brand is perceived, including all the indentification elements, the products personality, and the emotions and associations evokes in the mind of the consumer

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