IBM 301 Lecture Notes - Lecture 1: American Marketing Association, Marketing

• School: Cal Poly Pomona
• Department: International Business and Marketing
• Course: IBM 301
• Professor: Hongbum Kim

Document Summary

Marketing is the activity, set of institutions, and the process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing entails processes that focus on delivering value and benefits to customers, not just selling goods and services. Exchange may not take place even if conditions are met. Marketing occurs even if exchange does not take place. Sales: aggressive sales techniques and belief that high sales result in higher profits. Market: satisfying customer needs and wants while meeting objectives. Societal: satisfying customer needs and wants while enhancing individual and societal well-being. If you build it, it will come . Doesn"t consider if what is produced meets market needs. Marketing = selling things & collecting money. Disregards market needs and consumer demands (wants) Despite the quality of sales force, often cannot convince people to buy what is neither wanted nor needed. Focusing on customer wants and needs to distinguish products from competitors" offerings.