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Branding Review

258 words - 2 pages

Branding review
Definition of marketing: A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others;

Marketing myopia: The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products;

Market offering: Some combination of products, services, information, or experiences offered to a market to ...view middle of the document...

n); company (profit);

Positioning: The offering is positioned in the mind of target buyers as delivering the value/benefits;
Market segment:

Different people have different wants to satisfy their needs
Segmentation: The way marketers divide the market into different pieces
Satisfaction: Comparative judgment between the actual performance or outcome and the expectation;
Supply chain: from the raw material to buyers, including marketing channels;
Marketing process model: market environment analysis→fixing marketing target →setting marketing strategy →marketing mix →marketing controlling

Marketing Management is the art and science of choosing target markets and building profitable relationships with the consumers;

Driven Marketing Strategy: select customers to serve; marketing management orientation;
[pic]
How to capture value from customers?
• Create customer loyalty and retention;
• Growing share of marketing
• Building customers equity
• Building the right relation with right customers
Customer lifetime value:每个购买者在未来可能会为公司带来收益的总和;
Three principle of marketing: customer value, differentiation; focus;

Customer value strategy:
• Expand or improve products, or services
• Reduce the price
• Combine these two elements

Different management orientation in global area—EPRG framework
Ethnocentric; Regiocentric; polycentric; Geocentric;

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