COMM 223 Lecture 3: MARK 201 NOTE 1
28 Jun 2016
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Document Summary
Marketing: is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing myopia: mistake of paying more attention to the specific products offer (no research and development) Market offerings: is some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Market segmentation refers to dividing the markets into segments of customers. Target marketing refers to which segments to go after (those the company can serve profitably) Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it. The value proposition is the set of benefits or values a company promises to deliver to customers to satisfy their needs. Production concept: clients will favor products at highly affordable prices. Selling concept: client will not buy enough of the product unless it takes a large portion in client income.
