BSB126 Final: BSB 126 Study Notes
Document Summary
Lecture 1: introduction to marketing and the marketing concept. Marketing must get it (all) right: product, price, place (target market eg. myers or bigw?, promotion, people (target market and staff, time increasingly valued by consumers collectively known as the 4 p"s. If the competition moves onto marketing before your business and they never do, the business is effectively dead. The future belongs to people who see possibilities before they become obvious . The production orientation: are willing to pay more for a product, people"s perception of a rand and its quality is difficult/slow to change, the difference between selling and marketing: Selling find and customer and sell it (to anyone) Marketing choose a need and know it better than the customer. Examples: railways went broke due to competitions. Train is a product where as transport is a customer need: mgm (movie studio) Selling entertainment customer need marketing: marketing involves thinking about a customer need, not the product.
