MKTG1001 Lecture Notes - Lecture 1: Social Media Marketing, Omv, Coconut Water

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

Marketing - a function/process/activity/ideology that defines an organisation creating, communicating, delivering and exchanging offerings which for customers/clients/partners/ society as a whole and profit for the organisation. (american. Marketing association + phillip kotler) in value result. A process that incorporates identifying consumer needs, and creating and delivering offerings that result in consumer satisfaction and profit to the producer: value = subjective to consumer why insight (research) needs to be gained to. Demand: marketing used as a function to influence demand, utilitarian need for customers to purchase (basic assumption of consumer, e. g. thirsty = water can market coconut water instead. 4 p"s of marketing (marketing mix: product. Can be affected by: distribution plans (selling of product, value chain cost (activities performed by organisation to deliver product/service into market, markups (amount added to price of goods to gain profit, competitive production of rival products, placement.