MKT 100- Final Exam Guide - Comprehensive Notes for the exam ( 34 pages long!)

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30 Nov 2017
Department
Course
Ryerson
MKT 100
FINAL EXAM
STUDY GUIDE
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MKT 100
Week 1
The four P’s – Marketing Mix
o Creating Value -> Communicating Value -> Delivering Value
o Exchange A <-> B
Customer Value and beneficial relationships
o Product
Goods
Services
Ideas
The fundamental purpose of marketing is to create value by developing a
variety of offerings, including goods, services and ideas to satisfy customer
needs
o Place : Delivering Value
All activites necessary to get the product to the right customer when that
customer wants it
Supply Chai management is the field that examines these activities
Place delivers the product to the customers
Marketing channels distribution strategy
Distribution strategy can be complex and requires consideration of
many factors, as well as a high level of coordination
o Price: Transacting Value
Price is everything the buyer gives up in exchange for the product
Eerythig has a prie, though it does’t alays hae to e oetary
Money
Energy
Time
o Promotion : Communicating Value
The communication activities of marketing
Used to inform, persuade and remind potential buyers
Used to influence their opinions or elicit a response
Even the best products and services will go unsold if marketers cannot
communicate their value to customers
Test your knowledge
Promotion is ___________ by a marketer that informs, persuades, and
reminds potential buyers about a product or service to influence their
opinions or elicit a response
o Smoke-and-mirrors
o Ceercion
o Teasing
o Communication
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Marketing Course Components
o Marketing Metrics & Analytic Skills
o Theory
o IT Enabled
Metrics and Marketing Decisions
o Fixed and Variable Costs
o Contribution
o Breakeven
o Marketing Decision
1. Analyzing the Situation
o 5 C’s
Political
Economic
Socio-cultural
Technological
Climate and focuses
2. Developing Market Strategy
o Segmentation
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