SYLLABUS NOTES: influences on marketing  factors influencing customer choice – psychological, sociocultural, economic, government  consumer laws – deceptive and misleading advertising – price discrimination – implied conditions – warranties  ethical – truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging marketing process  situational analysis – SWOT, product life cycle  market research  establishing market objectives  identifying target markets  developing marketing strategies  implementation, monitoring and controlling – developing a financial forecast; comparing actual and planned results, revising the marketing strategy marketing strategies  market segmentation, product/service differentiation and positioning  products – goods and/or services – branding – packaging  price including pricing methods – cost, market, competition-based – pricing strategies – skimming, penetration, loss leaders, price points – price and quality interaction  promotion – elements of the promotion mix – advertising, personal selling and relationship marketing, sales promotions, publicity and public relations – the communication process – opinion leaders, word of mouth  place/distribution – distribution channels – channel choice – intensive, selective, exclusive – physical distribution issues – transport, warehousing, inventory  people, processes and physical evidence  e-marketing  global marketing – global branding – standardisation – customisation – global pricing – competitive positioning