• To explain what marketing is • To differentiate between “needs” and “wants” • To understand the fundamental marketing concepts • To explain why and how companies learn about their customers • To describe the main tools of marketing research • To identify and comment on the four elements of a company’s marketing mix • Marketing is more than a fancy image‚ a clever commercial‚ a special contest or a discount • Name some examples of marketing questions! Marketing involves a lot of planning
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[pic] MARKETING MANAGEMENT ANALYSIS FOR IKEA [pic] ABSTRACT The aim of this case study is to demonstrate IKEA’s marketing strategies‚ how succeeded in creating this brand name and retained its reputation for years. Will discuss all IKEA’s adopted strategies‚ products development‚ global presence and all challenges have to conquer to stay afloat. This report presents a case study of IKEA’s performance from different prospective‚ The importance of designing a customer centred marketing strategy
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1 Marketing: Managing Profitable Customer Relationships 1. Marketing seeks to create and manage profitable customer relationships by delivering _____ to customers. a. competitive prices b. superior value c. superior service d. superior promotion e. product assortment 2. ______________ is managing profitable customer relationships. a. Management b. Control c. Marketing d. Human resources e. Customer service 3. The twofold goal of marketing is to
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customers 2. Which of the following statements is true? It is more expensive to attract new customers than to retain existing ones 3. Why is there a need to monitor and understand competitors? Because customers will turn to competitors if their needs are not being me 4. Which of the following statements is true? The costs of attracting a new customer have been found to be up to six times higher than the costs of retaining old ones 5. Which of these is not part of the marketing concept?
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Satisfaction: the extent to which a firm fulfills a customers needs‚ desires‚ and expectations. Marketing: the performance of activities that seeks to accomplish an organizations objectives by anticipating customer or client needs and directing the flow of need satisfying goods and services from producer to customer or client. Pure Substance Economy: when each family unit produces everything it consumes. Macro-Marketing is a social process that directs an economy’s flow of goods and services from producer
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Industrial products are purchased for further processing or to be used in conducting a business. There are also differences in quantity. Consumer goods are usually much smaller in quantity. The type of materials used by each class also differs. 2. The four key characteristics of services are intangibility‚ inseparability‚ variability‚ and perishability. Service Intangibility lacks tangible assets which can be seen‚ touched‚ smelt‚ heard‚ or tasted prior to purchase. Examples of such would be
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1 Marketing Background After undergoing a strategic analysis of its product portfolio‚ the Co-operative bank identified the tertiary sector as a promising market segment from which it could build an exciting new product offering specifically aimed full time tertiary students. Some demographic characteristics of this targeted segment include: males and females aged between 18 and 28 who have decided to further their education in a tertiary institution. Typically consumers in this segment have relatively
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Cited: Kirk‚ Jeremy. “Nike BI Project Seeks Standardization.” IDG News Service 6 Feb. 2006. 8 Feb. 2006 <http://www.itworld.com/App/103/060206nikebi/>. Etzel‚ Michael.‚ and Bruce Walker‚ and William Stanton. Marketing. New York: McGraw-Hill‚ 2004. Nike Foundation. Retrieved February 2‚ 2006‚ from http://www.nike.com/nikebiz/nikefoundation/home.jhtml Politi‚ Steve. “May Bode Go Downhill Fast.” The Star-Ledger 8 Feb. 2006. 8 Feb.
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cost-efficient. The value proposition is consist of professional teams‚ one on one service‚ budget price. Total estimated start-up capital is $190‚620 and estimated break-even point is $43‚118. Contingency plans for the business are continuous marketing strategies‚ continuous discount promotions. 2.0 Company Description Me-In® is the weight loss clinic center that guides people healthy and easy approach to weight loss. Me-In® is founded by the executive Phil-Jung Kim‚ with the huge help of leading
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Introduction The essence of the report is outlining a suggested marketing strategy for Best Western Westley Hotel Birmingham (Westly Hotel). The essential difference from previous work Section A is focusing in detail on target markets‚ for the future marketing direction of Westly Hotel in dealing with the marketing issues and problems. The main motivation is developing Westley Hotel’s marketing share‚ customer satification and making revenue. The challenges involves increased VAT‚ weak finance support
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