MKT 201 Lecture Notes - Lecture 1: Pinkberry, Yogurt, Step One
Document Summary
Chapter case study: the yogurt wars: pinkberry vs. red mango. Describe how marketers create value for a product or service. Understand why marketing is important, both within and outside the firm. Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing strives to create value in many ways. If marketers are to succeed, their customers must believe that the firm"s products and services are valuable; that is, they are worth more to the customers than they cost. Another important and closely related marketing role is to capture value of a product or service based on potential buyers" beliefs about its value. Marketers also enhance the value of products and services through various forms of communication, such as advertising and personal selling.
