Distinguish between the micro and macro views of marketing. After that explain that they are interrelated, if they are. The macro look at of marketing is concerned with what sort of whole marketing system performs, while the tiny view of marketing is concerned with how person firms do and/or should certainly operate. � In a market-directed economy, the actions of individual companies and customers pretty much figure out how the macro system functions. � However it is possible individuals, including the government, to modify the macro-marketing program and their role and evident efficiency can be affected by others-including consumers and the government; we. e., customers acting through their representatives. Chapter 2
Explain in your own words, what each of the four P's consists of and provide a good example? The main concern of the " Product" is to develop the proper product for the targeted market. � Example: � Orange and Royal Green Book Bag The main area of issue the " Place" should be to make sure the system is to the proper targeted place when the customer needs it. Example: � A athletics store in Whiteville The main concern of the " Promotion" is ensuring the word is out for the public regarding the product. Example: Send flyers to regional schools and in newspapers. The key concern with the " Price" is making sure the price is definitely competitive. � Example: In the event that another popular shoe is $65. 00 – charge $60. 00 Section 3
Is likely to words, describe how a promoting manager may well use a competition analysis to avoid situations the involve head on competition. The competitor research encourages the marketing supervisor to think when it comes to whole strategies – focus on markets and relevant promoting mixes – as well as competitive barriers when evaluating the competitive scenario. There may be several competitors who have are very identical with respect to 1 dimension (i. e., the item that they offer), but who also are very several with respect to various other aspects of the strategy (channel of division, promotion way, etc . ). Chapter 20...