MKT 100 Study Guide - Comprehensive Final Guide: Eth, Tim Hortons, Unique Selling Proposition

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Daryl D' Souza

Document Summary

1. product (creating value) a. product includes the physical features of the product such as: size, brand, quality, features, packaging, and warranty. Time, energy, and money. a. price is everything the buyer gives up in exchange for the product. Including: b. price includes the price for the good or service but also offers you may have for the product, such as: discounts, allowances, costs, payment period, and credit terms. 4. promotion (communicating value) a. promotion is used to inform, persuade, and remind potential buyers. Social media in marketing - the use of digital tools make it easy to reach out to your consumers, create and share content and form social relationships and personal identities. (ex. Lou dawg"s using twitter made consumers more engaged and they responded quicker to negative feedback. ) Founding principle: listen and learn from your customers. Internet is an effective way to spread negativity. Lou dawg"s not playing drake music but sticking to playing blues.