BUAD100 Lecture 3: WEEK 3 → Basics of Marketing

19 views3 pages
WEEK 3 Basics of Marketing
VIDEO LECTURE INTRODUCTION TO MARKETING
A Preview into our discussion on Marketing: Hershey’s Chocolates
- What is the product hershey’s sells
- What is the price
- Where is Hershey’s sold? (place)
- How is Hersey’s promoted?
- Who is Hershey’s Target market?
- Who is Hershey’s competition?
What is Marketed?
- Goods
- Services
- Events
- Experiences
- Persons
- Places
- Organizations
- Properties
Let’s Define Marketing:
- “marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have VALUE for customers, clients, and society
at large
o marketing should be regarded as a broad activity in companies, not just a
department
o Marketing provides long term value rather than a narrow exchange of money
- Marketing is an exchange for SOMETHING OF VALUE
VIDEO LECTURE MARKET STRATEGY PART ONE
Marketing and Mission Statements:
- Mission statement is the written declaration of an organization’s core purpose; typically
unchanged over time
o 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”
Unlock document

This preview shows page 1 of the document.
Unlock all 3 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.