MKT 100 Lecture Notes - Lecture 1: Marketing Mix, Sales Promotion, Ipad

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Steven Chuang

Document Summary

Marketing is about managing profitable customer relationships. Market: people with the desire and ability to buy specific product. People also market themselves, e. g. high school prom, dating, career advancement. Byer might be different than the ultimate consumer (b2b/b2c) Ideas and values are marketed (social marketing), e. g. political parties. Marketing is about satisfying customer wants and needs. Ma(cid:396)keti(cid:374)g (cid:396)e(cid:395)ui(cid:396)es p(cid:396)odu(cid:272)t, p(cid:396)i(cid:272)e, pla(cid:272)e, a(cid:374)d p(cid:396)o(cid:373)otio(cid:374) (cid:894)4 p" (cid:895) Marketing can be performed by both individuals and organizations. The marketing process: identify consumer needs and wants. Wants: needs shaped by culture and the individual (burger vs tofu: segment, target, and position (stp) Product features, brand, name, packaging, service, warranty. Price list price, rebates, discounts, payment period. Promotion advertising, sales promotion, merchandising, personal selling, publicity: build profitable customer relationships. Frequency marketing programs: reward customers who buy frequently or in volume, encourage consumers to increase the amount spent each time and to concentrate all or most of their related purchases with one brand.