CRI 540 Lecture Notes - Lecture 1: Beck, Organ Donation, Making Money
15 Nov 2016
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Document Summary
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. From customer"s perspective: a bundle of benefits consumers seek to satisfy needs/want relative to costs. From seller"s perspective: profit from a consumer (am i going to make a profit, and if so, how much) Basic value (how good the item/service is) Personal value (save up for something expensive, represents something. Lifetime value of a customer (lvc): total profit from a particular customer for a firm over his/her lifetime. Marketing: art and practice of providing value + making money for that value. Russell belk argued in the 80"s that our very selfhood is inextricably linked with the things we consume (or don"t consume, or want to consume but can"t) There is no self without consumption activity. Knowingly or unknowingly, intentionally or unintentionally, we regard our possessions as parts of ourselves .
