6600:205 Lecture Notes - Lecture 1: American Marketing Association, Marketing Mix, Services Marketing
16 Nov 2017
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Document Summary
Good marketing requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on society in general marketing plan- speci es the marketing activities for a speci c period of time. How the product or service will be conceived or designed. Understanding the marketplace is fundamental to marketing success. Marketing requires product, price, place, and promotion decisions (marketing mix / four ps) product: creating value. Everything the buyer gives up money, time, energy in exchange for the product. Marketers must determine the price of a product carefully on the basis of the potential buyer"s belief about its value place: delivering the value proposition. Represents all the activities necessary to get the product to the right customer when that customer wants it. Without a strong and ef cient marketing channeling system, merchandise isn"t available when customers want it the customers are disappointed and the sales and pro ts suffer promotion: communicating the value proposition.
