SMG SM 131 Lecture Notes - Lecture 4: Peter Drucker, Marketing Mix, Break Even

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Rebecca Nichols

Document Summary

Find a need and fill it -ruth stafford peale. Market analysis - analysis environment to determine consumers and competition. The purpose of business is to create a consumer . Because the purpose of business is to create a customer, the business enterprise has two - and only two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing function of the business. Psychographics - based on attitudes and beliefs. There"s illusion of choices because there"s 10 major corporations in the world but controls over 300 different products. If looking at large company, there"s divisions so find which division that drive the cash, which division is new and growing, which division is declining and need to be sold off, etc. New company going against coca cola looks if their weaknesses matches or counteracts our strengths thereby giving opportunity to gain competitive advantage.