MKTG1001 Lecture Notes - Lecture 2: Maybelline, Plans, Igor Ansoff

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

Document Summary

Marketing = creating value (perceived value) for customers organisation must fully understand consumers and marketplace in which it operates. Usp (unique selling point) differentiate the value of the brands/org/service from other competitors. Is the set of benefits/values that it promises to deliver to customers to satisfy needs: should differentiate brands + position them in the marketplace. Exchange obtaining desired object + offering something in return. Transaction trade between two parties involving 2 things of value, agreed. Stakeholders must have extensive insight into customers. Sources of demand (of marketing org): new/potential customers, repeat/existing customers. Marketing decisions: finding/increasing/retaining demand growing value, changing or reducing demand adjusting value. Reverse/de-marketing (service firms/nfp orgs): permanently to discourage anti-social behaviours (ecstasy, temporarily to cope with peak demand periods/over demand. Risk: short-sighted by product, miss market, basic needs +wants: searching for buyers, designing products and. Identifying their needs services: setting prices, promoting them, delivering to place.