BSM 100 Lecture Notes - Lecture 6: Marketing, Marketing Plan, Marketing Mix
27 Jul 2016
School
Department
Course
Professor
Document Summary
Bsm 100: week 8, marketing (ch10 in busn and ch2 in rdgs) Competition: direct competitors and indirect competitors, know who is out there. Threat of substitutes: can the need of the customer be satisfied by a substitute, have to be knowledgeable of the possibility of substitutes. Customers: looking for loyalty, promotion, an investment in terms of advertising. Marketing: the activity, set of institutions, and processes for creating offering that have value for customers, clients, partners, and society at large (creating customer satisfaction) To gain > long term profitability by delivering unmatched value. Form utility: how it looks, changing the form in which the customers are getting their product. Time utility: has to be a convenient time for the customer, you want things to be open at the time that you need it. Place utility: location, where the customer wants it. Ownership utility: satisfaction from owning something, firms want the customer to own these things so makes things easily financeable.
