# data[].attributes.body
Chapter 1 is filled with topics that aren't new to us yet brought us many surprises, within it, these objectives are:

- Defining marketing.
- Explaining the different variables within the marketing mix.
- Briefly describing the marketing environment.
- Summarizing the marketing concept.
- Identifying the importance of building costumer relationships.

# data[].attributes.body
Marketing in on itself is creating, distributing, promoting, and pricing goods and services with the sole purpose of either:

- Developing and maintaining favorable relationships with stakeholders within a dynamic environment.

- Facilitating satisfying exchanges in a relationship with costumers.

# data[].attributes.body
Adopts a coordinated set of activities that:
- Aids the organization in achieving it's goals.
- Sets it's goals on the costumers being the main target.
- Satisfies costumers' needs.

# data[].attributes.body
A marketing mix is used to decide the type and amount of elements to be used.
In it there are multiple variables, which include:
- Product
- Pricing
- Promotion
- Distribution

# data[].attributes.body
Directly following what we stated on the previous statement, the focus marketing usually strides for are as follow:
- Costumers: They purchase organization's products.
- Target Market: These are a specific group of costumers on whom an organization focuses it's marketing efforts.

# data[].attributes.body
Also associated with Product Variable, Price Variable establishes pricing objectives, policies, and determines product prices.
What is price?
A price is a critical component of the marketing mix, also used as a competitive tool.
Note: Intense price competition leads to price wars.

# data[].attributes.body
A Product is a good, service, or idea.
Within products, they can involve:
- Brand Names
- Packaging
Note that product variables are directly involved with creating products that address costumers' wants and needs.

# data[].attributes.body
Distribution Variable ensures availability of products in desired quantities to maximize number of target-market costumers possible. Distribution Variable aims to:

Keep costs low for inventory and transportation, as well as storage.

It also ensures availability of products at the right time and in convenient locations.

# data[].attributes.body
Promotion Variables are a segment of activities that inform individuals or groups about the organization and it's products.

These:
- Educate costumers about product features.
- Help sustain interest.
- Urge people to take a stance on a political or social issue.

# data[].attributes.body
Constitutes the following forces:
- Political
- Economic
- Competitive
- Socio-Cultural
- Technological
- Legal and regulatory

# data[].attributes.body
Explain the strategic planning process.
Identify what is necessary to effectively manage the implementation of marketing strategies.
Describe the major elements of strategic performance evaluation.
Describe the development of a marketing plan.

# data[].attributes.body
Is known for being the process of establishing an organizational mission.

Requires establishing an organizational mission and formulating

Goals

A corporate strategy

Marketing objectives

A marketing strategy

Should be guided by market orientation

To ensure concern for customer satisfaction

For the successful development of marketing strategies and planning processes

# data[].attributes.headline
Fundamentals of the Strategic Planning Process 

# data[].attributes.subject
Fundamentals of the Strategic Planning Process 

# data[].attributes.body
Some of these fundamentals may include:
Mission statement - long-term view, or vision, of what the organization wants to become

Corporate strategy - determines the means for utilizing resources in the functional areas to achieve the organization’s goal

Strategic business unit (SBU) - a division, product line, or other profit center within the parent company

Market -  group of individuals/organizations that have needs for a product class and have the ability, willingness, and authority to purchase it

Market share -  percentage of a market that actually buys a specific product from a particular company.

# data[].attributes.body
SWOT analysis - assesses an organization’s strengths, weaknesses, opportunities, and threats
Indicates how marketers must seek to convert weaknesses into strengths and threats into opportunities

Provides insight for marketers to match internal strengths with external opportunities to develop competitive advantages.

# data[].attributes.body
The process of putting marketing strategies into action ±Provide purpose and direction

±Effectiveness depends on

°Well-organized marketing department that is capable of motivating personnel

°Effective communication

°Good coordination efforts

°Setting reasonable and attainable timetables for completion of each activity

# data[].attributes.body
Satisfying the needs of a market by conducting research to select the most appropriate target market

Requires analyzing

Demographic information

Customer needs, preferences, and behaviors

Characteristics

Consistency with the business-unit and corporate strategies

Flexibility in response to changes in market conditions