MKT 100 Lecture Notes - Lecture 1: List Price, Direct Marketing, Sales Promotion

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

A set of business practices designed to plan for and present an organization;s products or services in ways that build e ective customer relationships. Marketing is about satisfying customer"s needs and wants. Developing products and services to meet those needs. Want: the particular way in which a person chooses to satisfy a need shaped by knowledge, culture and personality. Market: the group(s) of people who need or want a company"s product or services and the ability and willingness to buy them. The exchange can occur between any two parties. Not simply a buyer and seller exchanging money for a good or service. Can be an exchange of information for convenience. Product/service brand, size, quality, feature, packaging, warranty. Price list price, discounts, allowances, costs, payment period, credit terms. Price is everything the buyer gives up in exchange for the product. Place marketing channels, distribution intensity, locations, supply chain, logistics. Promotion advertising, sales promotion, personal selling, public relations, direct marketing, electronic media.