Market targeting

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  • Lecture Principles of Marketing - Chapter 7: Customer-driven Marketing strategy presents the following content: Customer-driven Marketing strategy, market segmentation, market targeting, differentiation and positioning.

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  • Marketing deals with identifying and meeting human and social needs.Marketing is a societal process by which individuals and groups obtain what they need through creating , offering and freely exchanging products and services of value with others.

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  • This chapter define the three steps of target marketing: market segmentation, market targeting, and market positioning; list and discuss the major bases for segmenting consumer and business markets; explain how companies identify attractive market segments and choose a target marketing strategy; discuss how companies position their products for maximum competitive advantage in the marketplace.

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  • Chapter 8 - Identifying market segments and targets. In this chapter, we will address the following questions: What are the different levels of market segmentation? In what ways can a company divide a market into segments? What are the requirements for effective segmentation? How should business markets be segmented? How should a company choose the most attractive target markets?

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  • Chapter 4 provides knowledge of ethical and social responsibility in marketing. After reading chapter 4, you should be able to: Explain the difference between legal and ethical behavior in marketing, identify factors that influence ethical and unethical marketing decisions, describe the different concepts of social responsibility, recognize unethical and socially irresponsible consumer behavior.

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  • Chapter 1 - Creating customer relationships and value through marketing. After reading chapter 1, you should be able to: Define marketing and identify the diverse factors influencing marketing activities, explain how marketing discovers and satisfies consumer needs, distinguish between marketing mix factors and environmental forces, explain how organizations build strong customer relationships and customer value through marketing, describe how today’s customer relationship era differs from prior eras.

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  • Chapter 2 - Developing successful marketing and organizational strategies. After reading chapter 2, you should be able to: Describe two kinds of organizations and the three levels of strategy in them; describe how core values, mission, organizational culture, business, and goals are important to organizations; explain why managers use marketing dashboards and marketing metrics.

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  • Chapter 3 provides knowledge of scanning the marketing environment. After reading chapter 3, you should be able to: Explain how environmental scanning provides information about social, economic, technological, competitive, and regulatory forces; describe how social forces such as demographics and culture can have an impact on marketing strategy; discuss how economic forces such as macroeconomic conditions and consumer income affect marketing.

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  • After reading chapter 6, you should be able to: Distinguish among industrial, reseller, and government organizational markets; describe the key characteristics of organizational buying that make it different from consumer buying; explain how buying centers and buying situations influence organizational purchasing; recognize the importance and nature of online buying in organizational markets;...

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  • Chapter 7 – Understanding and reaching global consumers and markets. After reading chapter 7, you should be able to: Describe the nature and scope of world trade from a global perspective and identify the major trends that have influenced world trade and global marketing, identify the environmental forces that shape global marketing efforts, name and describe the alternative approaches companies use to enter global markets,...

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  • Chapter 8 - Marketing research: from customer insights to actions. After reading chapter 8, you should be able to: Identify the reason for conducting marketing research, describe the five-step marketing research approach that leads to marketing actions, explain how marketing uses secondary and primary data.

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  • Chapter 9 - Market segmentation, targeting, and positioning. This chapter explain what market segmentation is and when to use it; identify the five steps involved in segmenting and targeting markets; recognize the bases used to segment consumer and organizational markets; develop a market-product grid to identify a target market and recommend resulting marketing actions.

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  • Chapter 11 - Managing successful products, services, and brands. This chapter explain the product life-cycle concept; identify the ways that marketing executives manage a product’s life cycle; recognize the importance of branding and alternative branding strategies; describe the role of packaging, labeling, and warranties in the marketing of a product.

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  • Chapter 12 describe four unique elements of services, recognize how services differ and how they can be classified, explain how consumers purchase and evaluate services, develop a customer contact audit to identify service advantages, explain the role of the seven Ps in the services marketing mix, discuss the important roles of internal marketing and customer experience management in service organizations.

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  • Chapter 15 provides knowledge of managing marketing channels and supply chains. This chapter explain what is meant by a marketing channel of distribution and why intermediaries are needed; distinguish among traditional marketing channels, electronic marketing channels, and different types of vertical marketing systems; describe factors that marketing executives consider when selecting and managing a marketing channel.

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  • Chapter 17 provides knowledge of integrated marketing communications and direct marketing. This chapter discuss integrated marketing communication and the communication process; describe the promotional mix and the uniqueness of each component; select the promotional approach appropriate to a product’s target audience, life-cycle stage, and channel strategy.

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  • Chapter 19 provides knowledge of using social media to connect with consumers. This chapter define social media and describe how they differ from traditional advertising media, identify the four major social networks and how brand managers integrate them into their organizations’ marketing actions, describe the differing roles of those receiving messages through traditional media versus social media and the factors brand managers use to select a social network.

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  • Chapter 20 provides knowledge of personal selling and sales management. After reading chapter 20, you should be able to: Discuss the nature and scope of personal selling and sales management in marketing, identify the different types of personal selling, explain the stages in the personal selling process, describe the major functions of sales management.

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  • This chapter describe what interactive marketing is and how it creates customer value, customer relationships, and customer experiences; explain why certain types of products and services are particularly suited for interactive marketing; identify the demographic and lifestyle profile of online consumers; describe why consumers shop and buy online and how marketers influence online purchasing behavior.

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  • After reading chapter 22, you should be able to: Explain how marketing managers allocate their limited resources, describe Porter’s generic business strategies and synergy analysis planning frameworks, explain what makes an effective marketing plan;...

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