MKT 100 Lecture Notes - Lecture 1: Kijiji, Marketing Mix, Ebay

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Francescucci

Document Summary

Marketing is 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. Begins with understanding their needs and wants. Developing products to satisfy their needs (cid:1) (cid:1) Not simply a buyer and seller exchanging money for a good or service. Can be an exchange of information for convenience. Product: creating value: goods, services, ideas. Price: transacting value: price is everything the buyer gives up in exchange for the product, money or time. Marketing can be performed by both individuals and organizations. B2b: wholesaling is often only business to business. B2c: all retailing is business to consumer selling. C2c: ebay and kijiji (cid:1) (cid:1) Value: the fundamental purpose of marketing is to create value for both the firm and customers. Something in excess of that being offered by competitors. Understand how each aspect of their product/service creates value for customers.