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Core curriculum reading
-
Reference no. 8153
Subject category: Marketing
Authors:
Published by:
Harvard Business Publishing (2014)
Version:
30 June 2014
Revision date:
22-Jan-2019
Length:
31 pages
Data source:
Published sources

Abstract

This reading provides an introduction to the framework for marketing strategy: how a business creates and retains a customer. It begins with a description of the 5Cs analysis for developing a marketing strategy (customer, company, collaborators, competitors, and context). It then discusses two sets of decisions every organization needs to make: the Aspiration Decision (what the company hopes to achieve in the market) and the Action Plan Decision (or 'marketing mix' of the 4Ps-product, promotion, placement, and price). Finally, it considers the different kinds of actions required for customer acquisition vs customer retention. This reading can serve as an overview reading for the Core Curriculum in Marketing series.

Topics

Customer retention; Manufacturing; Market segmentation; Marketing; Marketing channels; Marketing mix; Marketing planning; Marketing strategy; Pricing; Product positioning; United States

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