Marketing Management Chapter 8 key points * To develop the best marketing plans‚ managers need to understand what makes each segment unique and different. * Effective target marketing requires: market segmentation; market targeting‚ and market positioning. * A market segment consists of a group of customers who share a similar set of needs and wants. Market segments are generally defined by looking at descriptive characteristics or behavioral considerations. * Geographic
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Marketing Management‚ 14e (Kotler/Keller) Chapter 1 Defining Marketing for the 21st Century 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm’s intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit
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KOTLER RESUME Marketing Management Philip Kotler – Kevin Lane Keller SUMMARY PART 1 Understanding Marketing Management 4 Defining Marketing for the 21st Century 4 Developing Marketing Strategies and Plans 5 PART 2 Capturing Marketing Insights 13 Collecting Information and Forecasting Demand 13 Conducting Marketing Research 16 PART 3 Connecting with Customers 18 Creating
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Major Tasks of Marketing Management The popular image of the marketer is that he is a professional whose job is to create and maintain demand for something. Unfortunately‚ this is too limited a view of the range of marketing challenges he faces. Depending upon the type of demand‚ the different marketing tasks can be classified into eight types: 1. Negative Demand: |Definition |A state in which all or most of the important segments of the potential market dislike the
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1 1 Defining Marketing for the 21st Century What is Marketing? Marketing is an organizational function and a set of processes for creating‚ communicating‚ and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Copyright © 2011 Pearson Education‚ Inc. Publishing as Prentice Hall 1-2 What is Marketing Management? Marketing management is the art and science of choosing target markets and getting‚ keeping‚ and growing
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1 6 Analyzing Consumer Markets Chapter Questions How do consumer characteristics influence buying behavior? What major psychological processes influence consumer responses to the marketing program? How do consumers make purchasing decisions? In what ways do consumers stray from a deliberate rational decision process? Copyright © 2012 Pearson Education 6-2 Consumer Behavior Copyright © 2012 Pearson Education 6-3 What Influences Consumer Behavior? Cultural Factors Social Factors
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Chapter 5 Nordstrom Q1: How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty? It could expand its CRM to reach more customers with their services. Compared to its competitors Nordstrom should improve on their online advertisements and presence. A more advanced feedback system will create more loyalty as customers realize that Nordstrom cares about their complaints. It also allows to improve on the service quality. Blogs that announce and review new
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Chapter 6 – Analyzing Consumer Markets and Buyer Behavior True/False Questions 1. Whirlpool uses staff anthropologists to determine how exotic cultures do their laundry. False (easy) p. 111 2. Culture is the most fundamental determinant of a person’s wants and behavior. True (moderate) p. 112 3. Social classes are relatively heterogeneous and enduring divisions in a society. False (difficult) p. 113 4. If you reject the values of a particular group‚ it is considered a dissociative
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1. The need being met by JetBlue is mainly transportation. In today’s world consumers need to be able to travel long-distances quickly and JetBlue’s practices ensure customer comfort/satisfaction along the journey. The wants of JetBlue’s customers are to safely and quickly travel on an airplane. They also want to be comfortable and treated well. JetBlue accomplishes this by providing leather seats and entertainment with great customer service. The demands of this airline’s customers are pretty
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Marketing - Is the process of building profitable customer relationships by creating value for customers and capturing value in return - Satisfying customer needs 2 GOALS OF MARKETING • To attract new customers by promising superior value • To keep and grow current customers by delivering satisfaction MARKETING PROCESS 1. Understanding the Marketplace and Customer Needs 1.1. Needs‚ Wants‚ and Demands 1.1.1. NEEDS – states of felt deprivation. 1.1.2. WANTS – the form human
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