MKTG 350 Lecture Notes - Lecture 1: Marketing Plan, Operational Excellence, Swot Analysis
13 Sep 2016
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Document Summary
Marketing is the activity, set of instructions, and processes for creating, capturing, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. A market is a group of customers with common needs to satisfy and problems to solve who have the ability and authority to buy products. Product, price, place, promotion (4 ps) a. b. c. d. e. Product: create value by developing goods and services. Price: capturing value, everything a buyer gives up (money, time, etc) for the product. Place: delivering value (supply chain management, distribution to customer) Can be performed by individuals and organizations a. b. c. Impacts stakeholders like society, customers, employees, supply chain. Lead user adapts product for personal use i. Can adjust marketing strategy based on lead user c. Connecting with customers using social and mobile media i. ii. iii. iv. Connecting with customers using social and mobile media.
