Readings and Key Terms

Study Guide 1 MKT/571 Version 7 Week 1 Study Guide: Marketing Strategies

 Ch. 1 of Marketing Management

o Types of markets o Challenges to managing marketing o Holistic marketing concept

o Customer value o Competitive advantage o Strategic business unit (SBU) o Strategic planning process o SWOT Analysis o Marketing plan

o Marketing intelligence o Macroenvironmental forces

 Demographic  Economic  Socio-cultural  Natural  Technological  Political-legal forces

o Forecasting demand

o Marketing research process o Marketing metrics

Content Overview

 Marketing overview

o Definition of marketing

 Marketing mix (Four Ps)

o Understanding the consumer  Needs versus wants  Satisfaction and value

o Marketing role in business and society  Types of markets  The business’s marketing orientation and holistic marketing

 Strategic marketing

o Maximizing customer value

 Value chain  Core competencies  Competitive advantage

o Strategic planning process

 SWOT Analysis

o Macroenvironmental factors o Microenvironmental factors

 Strategic goals

o Corporate, divisional, business, and product level goals o SBUs o Generic strategies o Marketing plans

 Collecting marketing research

o Internal data and data mining o Marketing intelligence o Macroenvironmental analysis

 Demographic forces  Economic forces  Socio-cultural forces  Natural and environmental forces

 Technological forces  Political and legal forces

o Forecasting demand

 Conducting marketing research

o Research process

 Types of research  Exploratory  Descriptive  Causal

o Deciding the research plan

 Data sources  Research approaches  Research instruments  Sampling methods  Challenges to marketing research

o Establishing and measuring marketing metrics