MGMT 1 Lecture Notes - Lecture 13: Brand Awareness, Laundry Detergent, Cognitive Dissonance
Document Summary
Lec 13: marketing introduction, products, pricing (chapter 13 and 14) The american marketing association has defined marketing as the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, partners, and society at large. (p. 362) Want to buy products that provides value/utility. Form utility = take a piece of wood and make a chair into it. Taking physical things and alternating it into something different of use. Orientation has changed from helping the seller sell to help the buyers buy. Production era: focus on increase productivity, virtually unlimited demand. When mass production/assembly line was invented, everything was depended on efficiency of product production but not really on customer"s service. Selling era: with mass production, focus shifted to advertising and sellings. After the manufactures have already create an efficient mass production process, it shifted to selling the products.
