BUS 1050 Lecture Notes - Lecture 1: Lyft, Delivery (Commerce), Social Media Marketing
24 Oct 2016
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Document Summary
We have needs and wants, and these lead to production of commodities. Commodities (goods and services) are exchanged through markets. Marketing is the practice of creating/maintaining those markets. Physical: distribution of goods through channels (retail, wholesale, etc. ) Psychological: working with human needs and wants (our acquisitive nature) No one wants to put you in a bad (trick) position, but as a consumer you are opting into a system that can trick. Family- cigarettes make you happy, calm -have your cigarette with coffee. Military- strength men=strength, hunting, leisure (cabin in the woods) Product is so good, will change your mind. Repetition (modern day= same rep. but more humor) We need evidence of our fitness (our stuff, etc. ) The four ps : product, price, place (distribution), and promotion (mccarthy, Price: you can change price and get more units. Products have life cycles: introduction, growth, maturity, decline. Product mix: diversification of products in the market.
