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Marketing Basics - Kotler Philip

Key Concepts in Chapter 2

Marketing mix - a set of variable marketing factors that can be controlled, the combination of which the company uses in an effort to elicit the desired response from the target market.

A firm’s marketing opportunity is an attractive area of ​​marketing efforts where a particular firm can achieve a competitive advantage.

Matrix organization is the organization of a marketing service using both product managers and market managers.

Geographic Organization - The organization of a nationwide sales force for companies based on services from specific geographic areas.

Market-based organization is one of the forms of marketing service organization in which the main markets are assigned to market managers who collaborate with specialists from various functional services in developing their market day plans.

The organization for the production of goods is one of the forms of organization of a marketing service, in which the production of each individual product is managed by its own manager, working with specialists from various functional services in the development and implementation of plans for his product.

Market positioning - providing a product that is not in doubt, clearly distinct from others, a desirable place in the market and in the minds of target consumers.

The marketing management process is a process consisting of: 1) analysis of market opportunities, 2) selection of target markets, 3) development of a marketing mix and 4) implementation of marketing activities.

A market segment is a collection of consumers who respond equally to the same set of incentive marketing incentives.

Market segmentation is the process of dividing consumers into groups based on differences in needs, characteristics and / or behavior.

A functional organization is a marketing service organization in which different marketing specialists manage different types of marketing activities and report to the vice president of marketing.