MKT 100 Lecture Notes - Lecture 1: Walmart

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Important to build and maintain a loyal customer base. Ability to protect and take care of brand. Brands need to build value because they can offer more beyond the product/service; i. e. image, self-esteem, etc. Example: apple"s iphone offers the customer a certain trendiness to their image. Main aspects of marketing: creates value satisfaction of customer needs and wants. Marketing marketing entails and exchange occurs in many settings requires the. 4p"s can be performed by organizations and individuals. Needs vs wants: needs are necessities getting from point a to b, wants are how you satisfy needs gps, a/c, capacity, etc Marketing is an exchange: occurs between two parties, the exchange isn"t just money or goods (value) Price: everything the buyer gives up in exchange. Promotion: remind existing customers and inform potential ones. Marketing impacts many stakeholders and environments: profit and non-profit organizations, developing economies, entire industries.