ADM 2320 Lecture Notes - Lecture 2: Marketing Strategy, Root Mean Square, Marketing Mix
13 May 2017
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Why is marketing important: marketing expands firms" global presence: > good are available to consumers from many countries from the far reaches of the globe. > must understand customers needs & wants, segment-by-segment, region-by-region: marketing is pervasive across channel members. > each step in the supply chain involves marketing (raw material suppliers, manufacturer, distributor, customer) > all members in the chain must ultimately focus on creating value for their customer and the end user consumer: marketing makes life easier and provides employment opportunities. > choices of products and services choices as well as information about those choices. > employment in diverse elds such as research, sales, promotions, global marketing: marketing enriches society e. marketing can be entrepreneurial. Share information, balance bene ts and costs, and build customer relationships. Set low prices, put pro t above service, and use effective marketing strategies. Make logistics a priority, expand globally, and always offer new goods and services.
