- Today in class we learned about
- the four P's (Price, Place, Promotion, Product) and how those are internally focused
- the four C's (Customer Cost, Customer solution, Convenience, Communication) and how those are externally/our focus
- the marketing strategies (market penetration, market development, product development, and diversification)
- cost competitive advantage (Walmart), differentiation competitive advantage (Apple) and Niche competitive advantage (Falcon)
- innovation matrix, and where to plot points on the innovation matrix
- GE Matrix (Business strength vs Market Attractiveness
2. 3 concepts that're interesting/important
The four P's
GE Matrix
The marketing strategies
3. 3 concepts that we didn't talk about
An exchange can only take place only if five conditions exist (there must be at least two parties, each party has something that might be of value to the other party, each party is capable of communication and delivery, each party is free to accept or reject the exchange offer, each party believes it is appropriate or desirable to deal with the other party.
Production orientation v sales orientation, v market orientation v societal marketing orientation all influence organizations marketing processes
Relationship marketing - strategy that focuses on keeping and improving relationships with current customers
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