MKT 100 Lecture Notes - Lecture 1: Canadian Business, Aisle, Presto Card

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Marketing mix - the four p"s marketers use most often (product, price, promotion, place) P rod uc t - designing products that meets customer"s desire, value and need. Marketers tend to focus on intangibles gives them more ways to promote product. Managing brand over time, assessing which product should be continued or stopped, maintenance of customer service processes and procedures. I. e. when you say what oreo markets, people say cookies but really they are marketing treats. I. e. hairstylists market beauty and pampering not haircut. P ric e - involves transaction to choose best pricing for customers. Prices are determined by the quality of product, nature of customer, nature of the market, and company"s goal (covering cost) Product with high price could communicate quality (sometimes high price gives perception quality is better) Imc (integrated migration communication) which includes advertising, personal selling, direct marketing, publicity, personal relation and electronic media to help sell the product.