MKTG 409 Lecture Notes - Lecture 1: Shampoo, Sprint Corporation, Customer Relationship Management
28 Jan 2018
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Document Summary
Marketing: the process of creating, distributing, promoting and pricing goods, services and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment. Two or more parties with unsatisfied needs. Parties have a desire and ability to satisfy the needs. A way for the parties to communicate. Exchange: the provision or transfer of goods, services, or ideas in return for something of value. Note how customers are in the center! Price - the value that is exchanged for a product (not necessarily money!) Place (distribution) - making products available at the right time and place. Promotion - activities designed to inform about organizations or its products. The marketing concept: a management philosophy that an organization should try to provide products that satisfy customers" needs through a coordinated set of activities that also allows the organization to achieve its goals. Initially products were manufactured by hand; but with industrial.
