COMMERCE 2MA3 Lecture Notes - Lecture 1: Playstation 3, Convenience Store, Cloud Computing
11 Dec 2016
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Marketing is the closest to customers, understand customers. Keep figuri(cid:374)g out (cid:449)hat (cid:272)usto(cid:373)ers" (cid:374)eeds a(cid:374)d (cid:449)a(cid:374)ts are. Marketers want to build effective relationships with customers. Marketing creates perceived value, so customers think they are getting more value and want to pay for your product. Any person looking for a job is marketing their self, i. e. resume, cover letter -> price for the product (you) is the salary. Businesses need to find their market and customers before they develop a product. The ability to buy product is important as willingness to buy i. e. sons love of lambo. Asking for info deemed valuable to marketers in exchange for good. Warranty depends on the quality of the product -> honda offers long warranty, kia not as long because they are not as confident in their quality. Discounts-> how often, how much is the discount, discount to large buyers and secondary sellers.
