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chap003p

... The Functional Level includes all the various functional areas within a business unit. The Business Level consists of units within the overall organization that are generally managed as self-contained businesses. 1-5Irwin/McGraw-Hill ...
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What is the True Value of a Lost Customer?

... phone service to web-enabled service each time she used it public or wondered aloud how she ever managed to live without it. In other words, focusing only on the “direct effect” associated with the profits from Joan’s future purchases overlooks the “indirect effect” that Joan’s word-of-mouth, imitat ...
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Gaining a competitive advantage through social media marketing in B2C sales
Gaining a competitive advantage through social media marketing in B2C sales

... Price must cover the company’s costs but it is much more than only that. Price builds a certain image of the product’s image, e.g. whether it is a high quality product or something that any consumer is able to get. Price variable can segment the audience according to who can afford it. Place ‘P’ def ...
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Marketing

Marketing is about communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand. The oldest – and perhaps simplest and most natural form of marketing – is 'word of mouth' (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others. These communications can of course be either positive or negative. In recent times, the internet has provided a platform for mass, electronic WOM marketing (e-WOM), with consumers actively engaged in rating and commenting on goods and services.In for-profit enterprise the main purpose of marketing is to increase product sales and therefore the profits of the company. In the case of nonprofit marketing, the aim is to increase the take-up of the organization's services by its consumers or clients. Governments often employ social marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens. In for-profit enterprise marketing often acts as a support for the sales team by propagating the message and information to the desired target audience.Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer.From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response.Marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.Marketing can be considered a marriage of art and applied science (such as behavioural sciences) and makes use of information technology.Marketing is applied in enterprise and organisations via marketing management techniques.
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