learned so much about marketing at beginning
Jan 19th, 2011 by yuewu
I like the quote in the textbook:‘marketing is the processes for creating capturing, communicating, delivering and exchanging offering that have value for customers, clients, partners, and society at large.
After 2week’s class, I learned how marketing plays an important role both within and outside the firm, and finally figured out that the opportunity occurs to a company is an external factor that we cannot control but within a marketing strategy, marketers can create value for the product and services. A marketing strategy identifies the company’s target, a related marketing mix 4ps and intends to build a sustainable competitive strategy.
1. Business mission: become the premier purveyor of the finest coffee in the world while maintaining uncompromising principles as company grow.
2. Evaluate the environment of the company and find the strengths and weakness (internal), opportunity, threats (external).
3. Apply STP(segment, targeting, positioning)
4.Product: introduce Simply smooth to gentle ppl’s stomach to increase the value of coffee./ cost, competitor’s value- based pricing/ create more channel such as stores, internet and retailers/promote through a variety of medium such as TV, magazine, sale force, internet.
5. Performance metrics for the Starbucks eg. the net sale of 2006 is $7.88 billion and net profit was $564 million
The immediate environment compose of the company itself, its competitors, and company’s partners. Culture, Demographics, Social, Technology, Economic and Political are the macro-environmental factors.