RSM100Y1 Lecture : Marketing.docx
3 Apr 2012
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Document Summary
Underneath marketing: consumer psychology, segmentation, targeting and positioning, products and services, market research, pricing and promotion, retailing. Marketing: planning and executing the development, pricing, promotion and distribution of ideas, goods, services to create exchanges that satisfy both buyers" and sellers" objectives. Market making: connecting buyers and sellers: value creation: providing valuable products/services profitably. Getting the product to the customer (not just getting customers for our best products and services; but also getting products and services for our best customers) Defining competition: other ways in which people can solve the problem that you solve for them. Segmentation: the act of slicing up the total market targeting: the act of choosing one (or more) slice positioning: the act of giving your product some image to people in the chosen slice. Focus on traits that affect product need or purchase behaviour. Perception: walmart is limited service and traditional, holt renfrew is fashion forward with extensive service.
