COMM 1800 Chapter Notes - Chapter 12: Cash Cow, Craigslist, Competitor Analysis
22 Dec 2016
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October 27, 2016: understand the nature of marketing, the marketing function. Primary marketing data: created to answer the marketing question. Social factors how consumers are affected by group behavior. Economic factors relate to a consumer"s level of income and wealth. Psychological factors relate to a consumer"s motivation, perceptions, beliefs, and knowledge: maslow"s hierarchy of needs. Product differentiation creating a product that is different and possesses unique qualities that make it the most desirable among customer alternatives. Product positioning getting the customers to perceive that the product is different and provides more value compared to other products. Inform the buyer what he is buying and not buying including the right and responsibilities of both the seller and buyer. Protect the customer from sellers who unfairly manipulate the market by making false claims, withholding information, or engaging in discriminatory pricing practices. Federal trade commission (ftc) and consumer protection safety.
