ADMS 2200 Lecture Notes - Lecture 9: Marketing Mix, Retail

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Marius Dobre

Document Summary

The marketing mix: blending of the four strategy elements product, distribution, promotion, and price to fit the needs and preferences of a specific target market. Bundle of physical, service, and symbolic attributes designed to satisfy a customer"s wants and needs. Services intangible tasks that satisfy the needs of consumer and business users. Goods tangible products that customers can see, hear, smell, taste, or touch. Classifying goods and services for consumer and business markets: Consumer (b2c) product product destined for use by ultimate consumers. Business (b2b) product product that contributes directly or indirectly to the output of other products for resale. Categories emphasize product use rather than consumer buying behaviour. Quality is the key component to a firm"s success. Product line series of related products offered by one company. Marketing entire product lines can help company grow, economize company resources, and exploit product life cycles. Assortment of product lines and individual product offerings that the company sells.