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Marketing Exam 1
Intro to Marketing
Evolution of the Marketing Concept
Bases of Segmentation
Four Segmentation Strategies
Select a target market
Do customers’ needs differ enough to warrant the use of market segmentation?
In which market segment(s) should the firm participate?
Does the firm have the resources and skills to compete effectively in the target market?
What is the long-term growth potential of the market segment?
Core competency characteristics
Source of competitive advantage in that it makes a significant contribution to perceived customer benefits
Has applications in a wide variety of markets
Difficult for competitors to imitate
determines scope of business
guides resource deployment
provides overall coordination of functional areas
determines how to use resources to accomplish goals
identifies competitive advantages
aligns activities with company vision
Consumer Value Delivery Process
Choose the Value
Provide the Value
Communicate the Value
Strategic Market Plan Elements
Organizational Mission and Values
Implementation, Evaluation and Control
Sources of Cost Reduction
Examples of Product/Service Differentiation
Innovation and learning
The Marketing Environment
American Core Values
Changing Trends in Household Structure
Levels of Competition
Porters Five Forces
Demand for Business Products
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