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achieving the course objectives
achieving the course objectives

... throughout the course. It is designed to test how well you can apply the knowledge and skills learned in the course. The same criteria used to assess the written case assignment will be used to judge your test performance. Thus, the best way to prepare for the exam is to conscientiously study each o ...
FROM THE PRIMACY OF PRODUCTION TO THAT OF THE MARKET
FROM THE PRIMACY OF PRODUCTION TO THAT OF THE MARKET

... Source: Satisfaction of clients as a concordance between expectation and practical experience (after Hans-Dieter Zollondz in: Marketing Fundaments, 2007, page 14). A company which is not client-oriented, taking into consideration their expectations, does not act under the guidance of marketing. So, ...
INTRODUCTION TO MARKETING
INTRODUCTION TO MARKETING

... with ascertaining consumer needs and produce goods that satisfy those needs most effectively. Not only that the pricing and distribution functions of marketing are also planned accordingly. (b) Increase in demand Through advertising and other sales promotional efforts, marketing aims at creating add ...
Marketing Management
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... Nature and Scope of Marketing Marketing boasts a rich array of concepts and tools to help marketers address the decisions they must make. We can distinguish between a social and a managerial definition for marketing. According to a social definition, marketing is a societal process by which individu ...
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... two approaches to reach their targets. One option is to adopt a largely standardized strategy. Alternatively, they might go for a country-tailored strategy that recognizes differences between various countries. The undifferentiated approach will lead to economies of scale. The country-tailored appro ...
Definition of American Marketing Association Marketing - E
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... the desired satisfaction more effectively and efficiently than competitors”. Marketing concept is “a way of thinking” or “management philosophy” about an organization’s total marketing activities. When the philosophy is adopted, it affects not only marketing activities but also all the organization’ ...
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... Strategies and Tactics for Effective Pricing Common pricing strategies include the following: value pricing - “more for less” strategy that balances quality and price. prestige pricing - the pricing strategy in which a firm sets high prices on its products or services to send a message of uniquenes ...
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Current and Emerging Ethical Issues in Marketing
Current and Emerging Ethical Issues in Marketing

... a car is necessity. However, this impacts the oil price and environment but yet manufacturing of cars cannot be stopped because 70% of the households own cars. Similarly, the companies that produce cigarettes have adverse affects on society but yet the produce it and make people addicted to it. Thou ...
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... increased competition, and the evolution of different philosophical approaches. The stages overlap but in general terms they are as follows: a. The Production Orientation Stage (until the 1930’s) This approach focused on manufacturing goods which tended to sell regardless of their quality since they ...
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... Verhoef et al. (2009) recognize the importance of past customer experiences, store environments, service interfaces, and store brands on future experiences. They define customer experience carefully, considering it “holistic in nature and involve[ing] the customer’s cognitive, affective, emotional, ...
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... we need the product badly and immediately, price and sometimes product quality may be irrelevant to our decision to purchase. In business-to-consumer e-commerce, consumers sometimes can shop more efficiently when they use intelligent agents or ShopBots—computer programs that find sites selling a par ...
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... against each other as Nash-Cournot players with the transporation, production, storage, and peak gas sectors taken to be perfectly competitive. Also, multiple seasons and consumption sectors are modeled. Given the recent restructuring in natural gas markets and their importance to the energy sector, ...
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... A business entering a foreign market must determine whether consumers will be able to afford to buy its product. Discretionary income is the money remaining from an individual’s salary or wages after all essential living expenses, including rent and groceries, have been paid. ...
MARKET SEGMENTATION
MARKET SEGMENTATION

... marketer should identify the market segment. Profitable: The segment should be profitable. This means that only those segments which the business can get more profit should be targeted. The segment targeted should be able to raise money for the organisation. Recognisable: The marketer should be able ...
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... customers. In the words of Seth Godin, "turning strangers into friends, and friends into customers."  Permission marketing has been hailed as a way for marketers to succeed in a world increasingly cluttered with marketing messages ...
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Marketing Objectives Defined as: marketing ‘goals’ that the
Marketing Objectives Defined as: marketing ‘goals’ that the

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... promotional activities to make sure that sufficient quantities of advertised products are available when customers want to buy them. If a business plans to promote a certain item, the business must make sure than an adequate supply will be on hand to meet consumer demand. Businesses may lose custome ...
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Customer Perception of Service

... purchase of services (no guarantees) • Many services so specialised and difficult to evaluate (How do you know whether the plumber has done a good job?) • Therefore a firm needs to develop strategies to reduce this risk, e.g, training of employees, standardisation of offerings ...
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Adaptation of Products in International Markets

... markets, to increase profits, to use idle resources in production and accordingly to eradicate their stocks and to open up to international markets for many reasons. But the point here is to determine the differences between the national market and the international market. Since these differences a ...
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... share of the margin along the chain, that they are being exploited by marketers and retailers, both of whom are said to be making excessive profits. Alternatively, it has been suggested that farmers could make more money concentrating on production and should be discouraged from self-marketing, and ...
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Pricing strategies

A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market. Businesses may benefit from lowering or raising prices, depending on the needs and behaviors of customers and clients in the particular market. Finding the right pricing strategy is an important element in running a successful business.
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