D2C08 Introduction To Marketing Wine Flashcards Preview

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Flashcards in D2C08 Introduction To Marketing Wine Deck (5)
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Give one definition of marketing

CIM (Chartered Institute of Marketing):
The management process which is responsible for identifying, anticipating and satisfying consumer requirements profitably


In the context of marketing, what does consumer requirement involve?

> The wine
> The experience that the wine brings: confirmation of social status, ownership of something perceived as valuable, return on investment capital


What is the goal of marketing?

To create profits either through volume of sales or value of sales


What is considered a successful campaign

Marketing campaign costs money and resources. A successful one achieves adequate level of profit within a specified timetable


Key stages of successful marketing

> Identifying the product/brand to be marketed
> Analyzing the current market
> Identifying the target market
> Setting the objectives of the marketing strategy
> Devising the marketing strategy(the marketing mix)
> Implementing and monitoring the marketing strategy