MARK 300 Lecture 1: Mark 300 Lecture 1 Notes
Document Summary
Product, price, place, promotion= 4 p"s of marketing. Marketing- creation, delivery and communication of values to a speci c set of customers at a speci c price: engaging customers and managing pro table customer relationships. Engaging= going and nding in new places, up keeping current. Managing= what can we do for each other. Pro table= focus less on pro t of one customer. We engage customers by creating, delivering and communicating customer value by marketers. Needs- states of felt deprivation: derived from maslow"s hierarchy of needs, physical- food, clothing, warmth, safety, social- belonging and affection, individual- knowledge and self expression. Wants- form taken by human needs when shaped by culture and individual personality. Demands- human wants that are backed by buying power. Consumers will favorite available and affordable: product concept. Not buy enough without large scale selling effort: marketing concept. Knowing needs and wants and delivering better than competition: societal marketing concept.
