Overall marketing department - discover consumer needs through research --> satisfy consumer needs
through 4ps marketing program --> create products, services, ideas --> put them out into the market to
potential consumers --> gather information about their needs --> redo cycle
BCG Matrix differences
where do we spend the most money? - 1. Question Marks (apple watch) Low share- high growth market
( spend the most money here)
2. Stars (I phone). High share- high growth market
3. Cash Cows (I pad) generates large amt of cash
4. Dogs (I pod) Low share- slow growth market
cash cows fund the question marks --> I pod funds the apple watch
SWOT - Strengths weaknesses opportunities and threats
favorable unfavorable on top
internal external on the side
4 ps - Product price and place = must be blended to make a cohesive marketing program
What are the environmental forces and what/who do they affect - Social (cultural changes), economic
(*consumer income) , technological (changing tech) , competitive (other businesses) , regulatory (laws)
It affects the organization (marketing dep, or other deps) , its suppliers, and its costumers
Ethical Behavior
, where does it come from?
Why is it important? - Societal culture--> business culture and industry practice--> corporate culture and
expectations ==> personal moral and philosophy and ethical behavior
comes from our values
important because it is baked into a mission statement and vision
Leave company if it doesn't fit with your values
What are the 3 concepts of Corporate and social responsibility - Societal responsibility is the overall
general public, or public group of interest and is made up of SMALL (Profit responsibility -owners and
stakeholders) MED (Stakeholder Responsibility- suppliers/distributors, employees, consumers
Cant just make owners happy now we need to make stakeholders (employees, public, environment)
happy
5 stages of purchase decision process - 1. problem recognition (need)
2. information search
(seeking value)
3. alternative evaluation
(assessing value)
4. purchase decision
(buying Value)
5. post purchase behavior
(realizing value)
apple example of decision process - pre purchase includes
(social media, in person referrals, apple advertisements, and devise rating and reviews)
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