SMG MK 323 Lecture Notes - Lecture 1: Marketing Mix, Carbon Footprint, Starbucks
Document Summary
Marketing = the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Good marketing is not a random activity; takes long time to plan thoughtfully. Firms develop marketing plans that specifies the marketing activities for a specific period of time. Broken down into various components: how product/service will be conceived/designed, how much it"ll cost, where and how it will be promoted, how it will get to the consumer. Marketing is about satisfying customer needs and wants. Marketing requires product, price, promotion, and place. Marketing can be performed by individual or organizations. 1. 1 marketing is about satisfying customer needs and wants. Can be segmented or divided into groups of people who are pertinent to an organization. Ex: marketplace for soft drinks = most people in the world.
