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Physical resources include all plant and equipment, location, technology, raw materials, machines; human resources include all employees, training, experience, intelligence, knowledge, skills, abilities; and organizational resources include firm structure, planning processes, information systems, patents, trademarks, copyrights, databases, and so on. * * * Pricing Five major stakeholders affect pricing decisions: consumers, governments, suppliers, distributors, and competitors Sometimes an organization will pursue a forward integration strategy primarily to gain better control over prices charged to consumers 4-* Copyright ?2013 Pearson Education, Inc. publishing as Prentice Hall Distribution Distribution includes warehousing, distribution channels, distribution coverage, retail site locations, sales territories, inventory levels and location, transportation carriers, wholesaling, and retailing especially important when a firm is striving to implement a market development or forward integration strategy 4-* Copyright ?2013 Pearson Education, Inc. publishing as Prentice Hall Marketing Research Marketing research the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services can uncover critical strengths and weaknesses 4-* Copyright ?2013 Pearson Education, Inc. publishing as Prentice Hall Cost/Benefit Analysis Three steps are required to perform a cost/benefit analysis: compute the total costs associated with a decision, estimate the total benefits from the decision, compare the total costs with the total benefits. 4-* Copyright ?2013 Pearson Education, Inc. publishing as Prentice Hall Marketing Audit Checklist of Questions Are markets segmented effectively? Is the organization positioned well among competitors? Has the firm’s market share been increasing? Are present channels of distribution reliable and cost effective? Does the firm have an effective sales organization? Does the firm conduct market
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