MKTG210 B-LG1.1: Business Professional Knowledge & Competence
Description
1. Recognize the necessity of having an outside-in orientation, first by understanding customer needs and identifying opportunities in the environment, then by obtaining and maintaining a strategic fit with internal company strengths. 2. Understand the importance of providing superior customer value as the means to achieve customer satisfaction and retention. 3. Explain the importance of relationship building in marketing, both with other marketing partners and with customers. 4. Recognize that different customer groups must be treated differently; that a firm will not have the same type of relationship with all customer groups. Understand the process of segmentation and selecting target markets. 5. Apply the appropriate elements of the marketing mix (the four Ps: Product, Price, Place & Promotion) to allow a company to closely satisfy the needs of a target customer. This allows a company to achieve its marketing and corporate objectives. 6. Within promotion, explain the importance of integrated marketing communications, or in other words, “speaking with one voice”.