Professional Documents
Culture Documents
17/5/2003
Managerial Marketing
Chapter 1 and Chapter 8
What is Marketing?
Deals with customers, organizations (internal departments) and business
environment.
E-business:
- It benefits both consumers and companies.
- Fasten, less cost, changing ideas and experience about consuming
certain products.
- The percentage of people buying from the internet is much lesser than
those buying from the market (they don’t trust the internet) because they
want to react physically with the providers.
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- Metamarket: describe a cluster of complementary products and services
that are closely related in the minds of consumers but are spread across a
diverse set of industries.
Ex. if you think about buying a car, you will think about other relative
sides like the finance side (bank lean), car dealers, insurance companies,
mechanics, spare parts dealers, services shop, etc.
- Market place: is physical, as when one goes shopping in a store.
- market space: is digital, as when one goes shopping on the internet.
Market Segmentation:
Identifying and profiling distinct groups of buyers who might prefer or
require varying products and services mixes.
(divide the market into different groups)
Market Targeting:
After segmentation we start choosing the segment that presents the
greatest opportunity.
Positioning statement:
To [targeted consumer] – brand [benefit] - why
Marketing Channels:
- Channels used to reach a target market (channels connect the marketer
to the target buyers)
*Communications channels: deliver and receive messages from target
buyers, and include newspapers, magazines, TV, mail, internal, etc,.
*Distribution channels: to display, sell, or deliver the physical product or
services(s) to the buyer or user. (means to distribute goods and services).
They include distributors, wholesalers, retailers, and agents.
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*Services channels: to carry out transactions with potential buyers, they
include warehouses, transportation companies, banks, and insurance
companies that facilitate transactions.
Supply chain:
The channels stretching from the raw material to the component to the
final product that are carried to the final buyers.
Competition:
The actual and potential rival offering and substitutes that a buyer might
consider.
Levels of competition based on the degree of product substitutability:
*Brand competition: BMW and Mercedes.
*Industry competition: BMW and all cars.
*Form competition: BMW and all means of transportation.
*Generic competition: BMW competing