STUDY FOR BUSINESS

Value Chain The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.

Marketing Environment The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Marketing Mix & 4 Ps of Marketing The set of controllable tactical marketing tools, product, price place, and promotion that the firm blends to produce the response it wants in the target market Product Variety Quality Design Features Brand name Packaging Services Price List price Discounts Allowances Payment period Credit terms

SWOT Analysis An overall evaluation of the company’s Strengths (S), Weakness (W), Opportunities (O), and Threats (T) Strengths Internal capabilities that may help a company reach its objectives. Weaknesses Internal limitations that may interfere with a company’s ability to achieve its objectives Opportunities External factors that the company may be able to exploit to its advantage Threats Current and emerging external factors that may challenge the company’s performance Internal External .................Positive...............................Negative...............

Managing the Marketing Effort Marketing Analysis Managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis. SWOT Analysis An overall evaluation of the company’s Strengths (S), Weakness (W), Opportunities (O), and Threats (T)

Differentiation Actually differentiating the market offering to create superior customer value

Positioning Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers