Summary Chapter 11
Chapter 11 Unique Marketing Issues Selecting a Market and Establishing a Position · Segmenting the Market : to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. · Selecting a Target Market A niche market is a place within a market segment that represents a narrow group of customers with similar interest. · Crafting a Unique Market Position Branding Brand management is a program used to protect the image and value of an organization’s brand in customers’ minds. Creating buzz means creating awareness and a sense of anticipation about a company and its offerings. Brand equity is the term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm’s valuation. The 4Ps of M...