Lecture Notes
Marketing is everything connected to the process of profitability – offering right G/S to the right
person at the right time in the right manner through the right channels at the right price
Getting all this stuff right requires research:
industry (same vertical, supplier, complementary), customers (former and future), etc..
people on the front line (sales reps), other employees
Creating a good business strategy needs 5 things:
What kind of company it will be in future (global, collabing with others?)
Points of distinction
Why this is the right choice (how it benefits company)
What is the best combo of these choices
Whether or not strategy continues to make sense over time by assessing performance
Developing Business strategy:
1. Laying the foundations (5 key steps)
Sometimes its better to BE on profits so you can lower pricing
Don’t get rid of products that are starting lose income – find out what’s wrong with them by
talking to the consumer market that buys it
Trend is a percentage change over time
2. Dream a Bit; envision possibilities
3. Gear up to Get Going
Do research participation thing for 2%
Research process:
Symptoms tell u that there is a problem u need to find the root cause of
Accessing impact of problem is important bc u need to see how many/much resources you need
to apply to problem