The key is not just the invention but the capability to innovate by bringing the product successfully to the market. An important point to remember is that focus of innovation should be providing new solutions which better meet customer needs. Innovative solutions often do not require major breakthroughs in technology. For example Direct Line became the leader in car insurance by removing the need for brokers through its telemarketing campaigns. Or Dell became the profitable computer company just
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& Gamble’s differentiated marketing strategy? a- lost sales that would have been made with an undifferentiated marketing strategy across all segments b- lost customer loyalty due to lack of brand loyalty c- increased costs for separate marketing plans for each brand d- other suppliers controlling pricing e- lack of resources to succeed in an attractive segment 2) It is most accurate to say that successful niche marketing relies on a firm’s ________ and
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and execution. 1. Winning organizations devise and maintain a clearly stated‚ focused marketing strategy The marketing strategy is a simple value proposition that is based on a deep understanding of the customers. It is an organization’s ability to create superior value for its customers and‚ in the process‚ give it a competitive edge over its rivals. If a company has a clear and focused marketing strategy‚ it is more likely to succeed than if it has an unstable strategy‚ such as Kmart‚ who
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steps simple or complex‚ customer involvement Chapter 2: Conceptual framework of the book: the gap model of service quality Customer gap: difference between expected service and perceived service 1) Gap 1 - the listening gap a. Inadequate marketing research orientation b. Lack of upward communication c. Insufficient relationship focus d. Inadequate service recovery 2) Gap 2 - the service design and standards gap a. Poor service design b. Absence of customer-driven
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Malinauskaite International Marketing for Exchange Students Discussion Leader Ch. 3 International Marketing Research I. Chapter Summary * Due to the high time and cost investment in entering a new market‚ companies must be very sure that the market they are entering will be successful. Thus‚ they either conduct marketing research themselves‚ or hire secondary companies to research the market and possible outcomes for them. * Decisions of whether or not to conduct marketing research based on:
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overseas markets‚ it attempts to organize its international marketing activities on a country to country basis. Each country is treated as a separate entity and individual strategies are worked out accordingly. * Local assembly or production facilities and marketing organizations are created for serving market needs in each country. Polycentric orientation could be most suitable for firms seriously committed to international marketing and have its resources for investing abroad for fuller and
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1. Marketing in Today’s Economy (26) (27) Commodity Hell - Bad economy (commoditization‚ low price leaders do well‚ starbucks example) (28) The Challenges and Opportunities of Marketing in Today’s Economy Advances in computer‚ communication‚ and information technology forever changed the world Power Shift to Customers Massive Increase in Product Selection Audience and Media Fragmentation Changing Value Propositions Shifting Demand Patterns
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1) Digital marketing refers to the use of digital technology platforms‚ combined with traditional media‚ to achieve marketing objectives. Digital marketing involves using digital media channels and using other technologies such as databases for customer relationship management (e-CRM). We reviewed ten key digital hardware platforms including desktop‚ mobile‚ tablet and other hardware platforms. 2) A customer-centric approach to digital marketing considers the needs of a range of customers using techniques
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Econ-Class Notes 9/6 Economics: the study of choice under conditions of scarcity * Scarcity-Choices‚ resources * Resources: * Land‚ * Labor‚ * Capital: physical Plant equipment * Entrepreneurial ability Microeconomics vs. Macroeconomics Micro: Behavior of individual actors on the economic scene * Households * Businesses * Government Macro: total output‚ total employment‚ interest rates‚ economic growth‚ the aggregate economy‚ inflation‚
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Module 2 Media Planning & Strategy Chapter 20.1 Media Planning Number of promotional messages from the manufacturer need to be communicated with the prospective customer of the product. Media plan determines the best way to get the advertiser’s message to the market thro’ various media vehicles. In the basic sense‚ the goal of the media plan is to find combination of media that enables the marketer to communicate the message in the most effective manner to the largest # of potential clients
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