MGMT 1 Lecture Notes - Lecture 1: Merage Family, Marketing Mix, Test Market
Course CodeMGMT 1
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Paul Merage School of Business
Intro to Business Management
Course code: 38001
Final: Thursday of finals week
Lecture: Nonprofit Organizations & Marketing
● Nonprofit Organizations & Marketing
○ Charities use marketing to raise funds for combating world hunger, for instance,
or to obtain other resources.
○ Red Cross uses promotion to encourage people to donate blood when
local/national supplies run low; Greenpeace uses it to promote ecologically safe
○ States use marketing to attract new businesses and tourists; schools use marketing
to attract new students.
○ Organizations use marketing to promote everything from environmentalism and
crime prevention to social issues.
THE MARKETING MIX
● Marketing mix - the ingredients that go into a marketing program (product, price, place,
o Designing a want-satisfying product.
o Setting a price for the product.
o Putting the product in a place where people will buy it.
o Promoting the product, including how “green” it is.
● Applying the Marketing Process
o One of the best ways to understand the marketing process is to take a product or a
group of products and follow the process that led to their development and sale.
o You notice an opportunity, you conducted some preliminary research to see
whether your idea had any merit, and then you identified who might be interested
in your product, your target market – people you will try to persuade.
o Consists of the following steps:
▪ Find opportunities
▪ Conduct research
▪ Identify a target market
▪ Design a product to meet the need based on research (Product)
▪ Do product testing
▪ Determine a brand name, design a package, and set a price (Price)
▪ Select a distribution system (Place)
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