What tools help a marketer conduct a situational analysis
SWOT (strengths, weaknesses, opportunities, threats)
Markets, Market penetration, current, new
3 phases of strategic planning
planning, implementing, and controlling
existing marketing mix, existing customer market development strategy
new product/service, current target market
new product or service
data that includes race, gender, income and marital status
The greater the wealth of a country, generally, the better opportunities a firm will have in that country?
What is STP
Segmentation, Targeting, Positioning
Coca-cola launched coke zero to avoid cannibalizing current sales and to attract new customers in a segment that might now get with diet coke
B2B marketing refers to buying and selling goods or services to be used by final consumer
what do both B2B and B2C buying processes begin with?
what are the 5 stages?
Need recognition, info search, alternative evaluation, purchase, post purchase
Why do people buy one product over another?
Because they perceive the one product is better than the other.
What does the buying process begin with?
need recognition. The greater the discrepancy between customers need state and desired state, the greater the need recognition will be.
B2B marketing the salesperson is an integral component of the transaction