Describe what the marketing concept is and how it should guide a firm or nonprofit organization.

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  1. Explain what marketing is and why you should learn about it.
  2. Recognize the difference between marketing and macro-marketing.
  3. Identify the marketing functions and explain why marketing specialists—including intermediaries and collaborators—develop to perform them.
  4. Explain what a market-driven economy is and how it adjusts the macro-marketing system.
  5. Describe what the marketing concept is—and how it should guide a firm or nonprofit organization.
  6. Explain what customer value is and why it is important to customer satisfaction.
  7. Explain how social responsibility and marketing ethics relate to the marketing concept.
  8. Identify what a marketing manager does.
  9. Explain target marketing.
  10. Recognize the four Ps in a marketing mix.
  11. Recognize the difference between a marketing strategy, a marketing plan, and a marketing program.
  12. Identify what customer lifetime value and customer equity are and why marketing strategy planners seek to increase them.
  13. Identify the framework for marketing strategy planning.
  14. Recognize four broad types of marketing opportunities that help in identifying new strategies.
  15. Describe why strategies for opportunities in international markets should be considered.
  16. Identify the variables that shape the environment of marketing strategy planning.
  17. Explain why company objectives are important in guiding marketing strategy planning.
  18. Recognize how the resources of a firm affect the search for opportunities.
  19. Describe how to conduct a competitor analysis and how different types of competition affect strategy planning.
  20. Identify how the economic and technological environments can affect strategy planning.
  21. Define how elements of the political and legal environment affect marketing strategy planning.
  22. Explain the cultural and social environment and how demographic trends affect strategy planning
  23. Describe how to screen and evaluate marketing strategy opportunities.
  24. Explain defining generic markets and product markets.
    Identify market segmentation and how to segment product-markets into submarkets.
  25. Describe three approaches to market-oriented strategy planning.
  26. Recognize dimensions that may be useful for segmenting markets.
  27. Identify what positioning is and why it is useful.

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