Marketing managers face a host of decisions in handling marketing tasks. These range from major decisions such as what product features to design into a new product, how many salespeople to hire, or how much to spend on advertising, to minor decisions such as the wording or color for new packaging.
Among the questions that marketers ask (and will be addressed in this text) are: How can we spot and choose the right market segment(s)? How can we differentiate our offering? How should we respond to customers who press for a lower price? How can we compete against lower-cost, lower-price rivals? How far can we go in customizing our offering for each customer? How can we grow our business? How can we build stronger brands? How can we reduce the cost of customer acquisition and keep customers loyal? How can we tell which customers are more important? How can we measure the payback from marketing communications? How can we improve sales-force productivity? How can we manage channel conflict? How can we get other departments to be more customer-oriented?
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