BSM 100 Lecture Notes - Lecture 8: Leader Price, Outsourcing, Intangibility
23 Nov 2017
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Marketing - the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (customer satisfaction) ** Utility - the ability of goods and services to satisfy wants form, time, place, ownership. Acquire perception of value (uniquely able to satisfy) Retain belief of value (know / accept ability to satisfy, do not overpromise / underpromise) Geographic - demographic - lifestyle - usage - benefits desired (goodpub) Geographic - customer size/type - product use/service needs - buying situation (provide credit?) Size - affordability - profitability - accessibility - limited competitors. Need recognition research evaluation of alternatives purchase decision . From market research (care, changes, tastes, values) Mission is to be a thirst quencher. Want to force out competition (barriers to entry) More creativity for employees to be excited about. Product - anything a company offers to satisfy customer needs and wants, includes both goods and services.
