MKT 100 Lecture Notes - Lecture 1: Marketing Mix, Direct Marketing, Walmart

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Gillespie

Document Summary

Development of product and service as well is included. Also deals with prices in terms of if it will be high, skimming, low, penetration or meeting the competition. Prices are determined by company goals, nature of consumer, nature of market, and quality of competition. Price communicates value to consumers. higher the price the higher the quality. Involves marketing channels chosen to move the product from manufacturer to end user. Included are decisions about what intermediaries are chosen, value added as product passes distribution channel, how to create access convenience and maximum choice and range of product offerings. Ex. leather jacket would involve manufacturer making the jacket, then sell it to distributer who has connections to retailers. Integrating marketing communication (imc) involves all promotional tools used to sending one message. these include advertising, sales promotion, personal selling, electronic media, public relations, direct marketing. The factors involving the external environment relates to pest (political-legal, economic,