MKT 100 Lecture Notes - Lecture 1: Marketing Mix, Market Orientation, Marketing

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

Document Summary

To be distinct from competitors and sell your brand at a high amount. To get some sort of return/ investment. The activity, set of institutions and processes for creating, communicating, delivering and exchanging, delivering and exchanging offerings that have value for customers, clients, partners and society. Focuses on levels instead of separate aspects; all aspects tie together: satisfying customer needs and wants. Brand must understand what customers need and want, then develop products and services to suit customer needs and wants. Brand must determine how consumers interact with their products, how they use them and what improvements can be made. Wants: how you satisfy the need: marketing as an exchange. Not simply money for goods; can be an exchange for information. Involves 2 or more people: marketing requires marketing mix decisions. Product: create value in goods, services, ideas, etc. Promotion: communication activities to inform, influence, persuade, and remind potential buyers.