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MKTG topic 2 Terms in this set (27) value proposition elevator pitch of products explaining why they are superior to competing goods. Strategic Planning allocate it resources to capitalize on opportunities in the marketplace -long term -situation anal€8,51
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MKTG topic 2 Terms in this set (27) value proposition elevator pitch of products explaining why they are superior to competing goods. Strategic Planning allocate it resources to capitalize on opportunities in the marketplace -long term -situation anal
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GED - General Educational Development
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GED - General Educational Development
MKTG topic 2
Terms in this set (27)
value proposition elevator pitch of products explaining why they are superior to competing goods.
Strategic Planning allocate it resources to capitalize on opportunities in the marketplace
-long term
-situation analysis must be conducted before a com...
value proposition elevator pitch of products explaining why they are superior to competing goods.
allocate it resources to capitalize on opportunities in the marketplace
-long term
Strategic Planning
-situation analysis must be conducted before a company can decide on specific
actions
competencies unique characteristics in order to provide a competitive advantage
Market Penetration
Product Development
Strategic choices
Market Development
Diversification
positioning how you are viewed by others relative to your competitors
elements of value functional, emotional, life changing, social impact
STP Marketing model Segmentation, Targeting, Positioning
1. poor targeting
2. lack of clear objective
3. inadequate budget
4. inconsistent messaging
common reasons that marketing efforts fail
5. poor timing
6. failure to adapt
7. lack of differentiation
8. ineffective measurement
-Maslow believes there is no specific order to advance in each section of the pyramid
-the more elements a company has the more customer loyalty and revenue growth
Elements of Value Article -improvement in 3 areas: new product development, pricing, consumer segmentation
-quality was the most important element
-digital firms have the most value stated by consumers
must be conducted before the company can decide on actions.
Situation analysis
MKTG topic 2
marketing environmentally safe products and services in a way that is good for the
Green Marketing
environment
business or product lines within an organization that have their own competitors,
Strategic business units (SBU)
customers, and profit centers.
granting an independent operator the right to use your company's business model,
Franchising
techniques, and trademarks for a fee.
contract manufacturing when companies hire manufacturers to produce their products in another country
an entity that is created when two parties agree to share their profits, losses, and
joint venture
control with one another in an economic activity they joint undertake
direct investment Owning a company or facility overseas.
Offering products that are unrelated to other existing products produced by the
analyzes internal and external environments
diversification strategy organization
-google's acquisition of Motorola
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