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How does marketing play a role in society

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Reference no: EM13988240

Marketing in Society, Segmentation, and Positioning

Understanding the environment in which a business operates is crucial to being able to remain competitive. Additionally, the trend for growth into international markets means that modern businesses have to consider a growing number of factors when planning marketing activities.

Being able to "profile" your potential consumers and the characteristics they tend to share is a highly valuable process for any marketing manager to undertake. Imagine a product or service that your firm might eventually launch. Think about the characteristics of the consumers you would be targeting.

To prepare:

• Review the Gundlach, Boundless, and University of Kansas articles in this week's Learning Resources.

• Review the media in this week's Learning Resources:

• Although not required, it is highly recommended thatyou read Chapters 1 and 4 in your course text if you have already obtained a copy.

Response to the following questions:

• How does marketing play a role in society?

• Explain why target marketing is important. Be sure to address each of the following as it relates to target marketing: segmentation, positioning, and orientation.

Readings

• Gundlach, G. (2007). The American Marketing Association's 2004 definition of marketing: Perspectives on its implications for scholarship and the role and responsibility of marketing in society. Journal of Public Policy & Marketing, 26(2), 243-250. Retrieved from the Walden Library databases.

• AK Advisory Partners, LLC. (n.d.). Creating a successful marketing strategy. Retrieved July 23, 2014, fromhttps://www.akadvisorypartners.com/files/Creating-a-Successful-Marketing-Strategy.pdf

• Boundless. (n.d.). Marketing orientation. Retrieved July 22, 2014, fromhttps://www.boundless.com/marketing/an-overview-of-marketing/the-marketing-orientation-evolution/marketing-orientation/

• Business Victoria. (2014). Marketing strategies and tactics. Retrieved fromhttps://www.business.vic.gov.au/marketing-sales-and-online/increasing-sales-through-marketing/marketing-mix-strategies-and-tactics

• Chief Outsiders. (n.d.). Market positioning strategy. Retrieved July 22, 2014, fromhttps://www.chiefoutsiders.com/strategic-services/market-positioning-strategy/

• Info Entrepreneurs. (n.d.). Create your marketing strategy. Retrieved July 23, 2014, fromhttps://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/

• Klausner, A. (2013). Creating a successful marketing strategy. Retrieved fromhttps://www.forbes.com/sites/advisor/2013/04/17/creating-a-successful-marketing-strategy/

• University of Kansas. (n.d.). Section 4. Segmenting the market to reach the targeted population. Retrieved July 22, 2014, from https://ctb.ku.edu/en/table-of-contents/sustain/social-marketing/reach-targeted-populations/main

Media

• Alanis Business Academy. (2013). Episode 101: How to use market segmentation: Developing a target market [Video file]. Retrieved from https://www.youtube.com/watch?v=pCLQkgcjMjY

Note: The approximate length of this media piece is 16 minutes.

• FiveSix Media. (2012). Target marketing, segmentation, and positioning [Video file]. Retrieved fromhttps://www.youtube.com/watch?v=0ZW0SFwYjw8

Note: The approximate length of this media piece is 18 minutes.

• Laureate Education (Producer). (2013a). Business essentials - Overview of marketing [Video file]. Baltimore, MD: Author.

Reference no: EM13988240

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