MGMT 2150 Lecture Notes - Lecture 4: Brand Equity, Rolex, Marketing Mix
15 Apr 2016
School
Department
Course
Professor
Document Summary
Marketing processes of crating , communicating and delivering o erings that have value of customers improving customer relationships if isn"t just advertising and selling includes everything that organizations do to satisfy customer needs. 4 p"s of marketing: product, price, place, promotion. Marketing concept steps: nd out what customers need ( 1st p, develop products to meet those needs(2nd p, engage the whole company in e orts to satisy customers (3rd p, achieve company goals and make pro t (4th p) Target market a speci c group of customers who should be interested in your product have access to product have the means to buy it identi cation of market consumer market individuals industrial market businesses. Market segment group of potential customers with common characteristic that in uence their buying decisions. Lexus to upper income business professionals same company di erent product marketing.
