1. The five forces in the external marketing environment are: 1. Political-Legal environment, 2.Sociocultural environment, 3. Technological environment, 4. Economic environment and 5. Competitive environment.
2. Value is relates to what the consumer feels the products benefits are. Marketing has to strive to make sure they are focusing on keeping value high and seeing it as a priority. Products and services change from time to time and that is understandable. Marketers have to keep their options open and have resources so they are able to keep costs lower for consumers while still trying to provide value to a customer.
3. Market segmentation is the process of dividing a market into categories of customer’s types, or “segments” that have similar needs and wants or that they expect to show interest of the same products. Target markets are particular groups of people or organizations that a company’s marketing efforts focus on. One of the first steps in a marketing strategy is to choose a target market.
4. Individual and organizations will both need to make purchases but differently. An organization …show more content…
I believe that over time many things have been marketed to us in a social way even before we had social media. I think this because we often see commercials for products daily or see ads now on the internet and commercials or plug INS on the radio. Essentially, marketing is just about everywhere. I feel that Oreo cookies is something that can be marketed virally because it is something that has become popular and to think commercials and advertising has helped those sales a great deal. The American tradition of how to eat a cookie has taken over and there are videos on YouTube where they show a child teaching his father how to eat an Oreo by separating it and dunking it in milk. Showing something so heartwarming pulls at the heartstrings of consumers and often individuals think oh if I purchase this product they assume they can have things like they see them to
2. Value is relates to what the consumer feels the products benefits are. Marketing has to strive to make sure they are focusing on keeping value high and seeing it as a priority. Products and services change from time to time and that is understandable. Marketers have to keep their options open and have resources so they are able to keep costs lower for consumers while still trying to provide value to a customer.
3. Market segmentation is the process of dividing a market into categories of customer’s types, or “segments” that have similar needs and wants or that they expect to show interest of the same products. Target markets are particular groups of people or organizations that a company’s marketing efforts focus on. One of the first steps in a marketing strategy is to choose a target market.
4. Individual and organizations will both need to make purchases but differently. An organization …show more content…
I believe that over time many things have been marketed to us in a social way even before we had social media. I think this because we often see commercials for products daily or see ads now on the internet and commercials or plug INS on the radio. Essentially, marketing is just about everywhere. I feel that Oreo cookies is something that can be marketed virally because it is something that has become popular and to think commercials and advertising has helped those sales a great deal. The American tradition of how to eat a cookie has taken over and there are videos on YouTube where they show a child teaching his father how to eat an Oreo by separating it and dunking it in milk. Showing something so heartwarming pulls at the heartstrings of consumers and often individuals think oh if I purchase this product they assume they can have things like they see them to