BUAD100 Lecture Notes - Lecture 3: Marketing Mix, Something Of Value, Target Market
4 Mar 2019
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A preview into our discussion on marketing: hershey"s chocolates. Marketing is an exchange for something of value. Mission statement is the written declaration of an organization"s core purpose; typically unchanged over time: product oriented versus market-oriented. Chipotle example: we sell burritos and other mexican food vs we give customers. Food with integrity," served with a commitment toward the long-term welfare of customers and the environment . Facebook example: we are an online social network vs we connect people around the work and help them share important moments in their lives . Walmart example: we run discount stores vs we deliver low prices every day and give ordinary folks the chance to buy the same things as rich people. Marketing activities do not take place in a vacuum . Marketing environment includes many forces: competitive, economical, political, legal, regulatory, technological affects marketing mix, e. g. Good portion of your environment depends on your industry. Consumer goods: clorox/colgate palmolive/ kimberly clark, p&g, etc.
