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y‘æ1‰ñz@Marketing01

@[ƒe[ƒ}]Marketing Philosophy
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Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that will satisfy individual and organizational objectives.

The ultimate goal of marketing is to create a customer value. Marketersf main task is to identify consumersf needs and wants and then to fulfill those needs profitably. Marketers also need to build win-win relationships with their stakeholders, which consist of those who are affected by the companyfs business operations, such as customers, workers, shareholders, channel members, and local communities.

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y‘æ2‰ñz@Marketing02

@[ƒe[ƒ}]Strategic Planning | Corporate Strategy
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Strategic planning is the process of developing and maintaining a strategic fit between the organizationfs capabilities and its changing marketing opportunities to accomplish the organizationfs goals. The essence of strategic planning is to find a fit between competitive strengths and market opportunities. The elements of the strategy include:
@- A clearly defined corporate mission
@- Corporate objectives
@- Resource allocations
@- The integration of functional departments to create synergy.
Resulting benefits are clearer vision, sharper focus, improved understanding of environment, and effective problem-solving facilities.

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y‘æ3‰ñz@Marketing03

@[ƒe[ƒ}]Strategic Planning | Business Strategy
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This lecture focuses on business/functional strategies developed by strategic business units. For example, the CEO of GM develops a corporate strategy, and managers of each division (Cadillac, Buick, Chevy, Saturnc) develop business/functional strategies. Basically, business/functional strategies should mention how each department should compete. Four different classes of strategies are discussed: penetration, product development, market development, and diversification. A manager must also decide whether to be a mass marketer or a niche player; to be a first mover or a late mover; and to seek efficiency or differentiation.

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y‘æ4‰ñz@Marketing04

@[ƒe[ƒ}]STP (segmentation, targeting, and positioning)
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Market segmentation is often necessary in todayfs marketplace because of market fragmentation. Most marketers cannot realistically do a good job of meeting the needs of everyone. Markets can be segmented by demographic characteristics, psychographics, and consumer behaviors. After the market is segmented, each segment will be examined. A marketer may select one or more segments to target. A marketer must also develop a positioning strategy. In other wards, a marketer must determine how he/she wishes the brand to be perceived by consumers relative to the competition.

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y‘æ5‰ñz@Marketing05

@[ƒe[ƒ}]Product, Pricing, and Distribution Strategies
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Products are solutions to consumer problems. They are offered to satisfy a need or want. Products fall into three classes: convenience, shopping, and specialty. Different dimensions of quality and risks are discussed in this lecture. Every product goes through four states of product life cycle. At each stage, managers must develop appropriate strategies.

Pricing objectives may be to maximize profits, to increase sales volume, or to meet competition. They must be coordinated with the companyfs overall objectives. The lecture introduced skimming, penetration, product-line pricing, and captive pricing.

Channel membersf main task is to reconcile the needs of consumers and producers. In addition to bulk breaking, middlemen tasks include research, promotion, price negotiation, financing, education, and various services to retailers and producers.

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y‘æ6‰ñz@Marketing06

@[ƒe[ƒ}]Promotion Strategies
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One of the key concepts in this lecture is IMC (integrated business communication). A marketing manager must coordinate the companyfs promotional mix that includes advertising, public relations, packaging, personal selling, sales promotion, and trade promotion. It is extremely important to send consistent messages to consumers. A manager also has to pay attention to inferred messages (product itself, price, store image, and brand image), maintenance messages (salespersonsf attitude), and unplanned messages (word-of-mouth, news, and gossip).

Advertising is extremely effective in increasing brand awareness. However, todayfs consumers are exposed to an excessive number of commercial messages. Marketing managers have recently shifted their focus from advertising to non-traditional types of communications, such as public relations, product placement, buzz marketing, events, sponsorship, venue marketing, and others.

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