based on customers’ different demands and companies are using relevant strategies to target them. To be exact‚ customers of the sensors are concerned about four aspects of the products‚ which include price‚ MTBF‚ age and positioning. In addition‚ nowadays‚ the current trend for customers’ preferences is using smaller and faster sensors. The general trend for customers’ preference is for the smaller and faster products. 2.2 Company overview The initial strategy of Baldwin is to develop high end and
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Marketing Management 1.8 Summary Let us recapitulate the important concepts discussed in this unit: Marketing is a social activity directed towards satisfying customer needs and wants through an exchange process. The five core concepts of marketing are: Needs‚ wants‚ and demand‚ Product and services‚ Exchange process‚ Customer value and satisfaction‚ and Markets. The main functions of marketing are advertising‚ sales promotion‚ market research‚ and sales planning. Marketing
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Introduction The value chain‚ or known as value chain analysis‚ is a concept from business management that was first described and popularized by Michael Porter. (Porter) Most of business strategy is to achieve a sustainable competitive advantage. Cost advantage and differentiation advantage are the two basic types of competitive advantage. Cost advantage can be obtained when the firm is able to deliver the same benefits as competitors‚ but at a lower cost‚ while differentiation advantage is
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revenue. However‚ extensions must be carefully evaluated and chosen to ensure that the related affect is what is expected. For example‚ the company needs to make sure that any extension to the brand supports those brand elements or attributes that customers associate with the brand. Any product extensions that conflict‚ deteriorate or dilute the brand. Brand extensions can be a profitable business growth strategy by associating the new product with the existing strong brand that the company has developed
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Introduction of customer relationship management 2 Importance of customer relationship management 2 Customer needs Definition 3 Types of customer needs 3 Process of identifying the customer needs…………………………………………………………………………................3 Customer expectations and satisfaction………………………………………………………. Customer expectations……………………………………………………………………………………………………………………………….4 Customer satisfaction……………………………………………………………………………………………………………………………4 Customer satisfaction
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Marketing implementation‚ the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan’s stated objectives. Evaluating and Controlling the Marketing Process To deal with the many surprises that occur during the implementation of marketing plans‚ the marketing department has to monitor and control marketing activities continuously. The lists of four types of marketing control needed by companies are: annual
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Marketing Management Course Outline 宋亦平 Course Description: This course is designed for you‚ undergraduates‚ to improve your understanding of and skills in marketing as a discipline. We use cases‚ discussions‚ and readings to provide a mix of integrated concepts and hands-on problem solving approaches. We‚ at the same time‚ encourage a variety of perspectives by our attendees on marketing issues. Objective: In this course we seek to: ← Introduce you to critical concepts and phenomena
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Market Orientation‚ Customer Value‚ and Superior Performance Stanley F. Slater and John C Narver Thinking in terms of the market (not marketing) is essential in the highiy competitive arenas of today‚ o achieve superior performance‚ a business must develop and sustain competitive advantage. But where competitive advantage was once based on structural characteristics such as market power‚ economies of scale‚ or a broad product line‚ the emphasis today has shifted to capabilities that enable
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researching existing and prospective customers. Even tools thought of as "new" a decade ago‚ such as internet advertising‚ e-mails‚ and text messaging‚ are now seen as the norm or even antiquated. Newer technologies‚ including GPS‚ DVR’s‚ social media and smart phone applications‚ are becoming increasingly important. Two major tools being used today are customer relationship management systems (CRMs) and social media marketing. CRM Customer relationship management systems use technology to organize
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networks‚ to create and deliver value to targeted customers at a profit grounded on high-quality customer-related data and enabled by information technology (book) Types of CRM Strategic CRM: customer-centric business strategy Dedicated to winning and keeping customers by creating and developing better value than competitors.Product oriented: customer choose products with best quality‚ performance‚ design etcProduction oriented: low price products Sales oriented: customers are persuaded by advertisement
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