POLS 1500 Lecture Notes - Lecture 9: Root Mean Square, Marketing Mix
15 May 2018
School
Department
Course
Professor
Tuesday, April 17, 2018
Marketing Note Summaries
Marketing 2210!
Chapter 1: !
Creating Customer Value, Relationships, and Experiences Through Marketing!
-Marketing is the activity for creating, communicating, delivering and exchanging
offerings that benefit the organization, its stakeholder, and society at large!
For Marketing to Occur you need:!
1. Two or more parties with unmet needs!
2. A desire and ability to satisfy them!
3. Communication between the parties!
4. Something to exchange!
Breadth and Depth of Marketing!
-Marketing affects every person and organization. Both for non-profit organizations
perform marketing activities. !
-They market products, services, ideas, and experiences that benefit consumers,
organizations, and countries!
How Marketing discovers and satisfies consumer needs and wants:!
-First objective is discover the needs of prospective consumers!
-2nd objective in marketing is satisfying the needs of consumers!
-A organization cannot satisfy all consumer needs, it must concentrate its efforts
towards a specific group of potential consumers or target markets (one or two
specific groups to focus its marketing program)!
#1
find more resources at oneclass.com
find more resources at oneclass.com
Tuesday, April 17, 2018
-After that having the selected target market, focus on building an appealing
marketing plan towards them (make it appealing)!
Distinguish between marketing mix elements and environmental forces!
4 P’s!
-Four P’s / elements in a marketing program designed to satisfy customer needs !
1. Product!
2. Price!
3. Promotion !
4. Place!
-These elements are called the marketing mix!
-These are called the controllable variable due to the fact that they are under the
general control of the marketing department within an organization!
Chapter: 10 Developing New Products and Services!
Recognize the the various terms that pertain to products and services:!
-A product is a good, service, or idea consisting of a bundle of tangible and intangible
attributes that satisfies a consumers and is received in exchange for money or some
other unit of value!
-Firms can offer a range of products, which involve decisions regarding the product
line and product mix!
Identify the ways in which consumer and business goods and services can be
classified!
#2
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Creating customer value, relationships, and experiences through marketing. Marketing is the activity for creating, communicating, delivering and exchanging o erings that bene t the organization, its stakeholder, and society at large. For marketing to occur you need: two or more parties with unmet needs, a desire and ability to satisfy them, communication between the parties, something to exchange. They market products, services, ideas, and experiences that bene t consumers, organizations, and countries. How marketing discovers and satis es consumer needs and wants: First objective is discover the needs of prospective consumers. 2nd objective in marketing is satisfying the needs of consumers. A organization cannot satisfy all consumer needs, it must concentrate its e orts towards a speci c group of potential consumers or target markets (one or two speci c groups to focus its marketing program) After that having the selected target market, focus on building an appealing marketing plan towards them (make it appealing)
