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MKT100 notes.docx

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Ryerson University
MKT 100
Joanne Mc Neish

Marketing Notes Table of Contents Chapter 12 Terms2 Theory3 6 Core aspects of marketing3 Marketing MixFour Ps3 External Marketing Forces PESTCD3 The Four Marketing PhilosophiesOrientation4 Firms focus on THREE activities to become valuedriven4 Benefits of Marketing4 Marketing Creates Value4 Chapter 25 Terms5 Theory7 Two Levels of Strategic PlanningCorporate and Functional7 Three Major Phases of a Marketing Plan7 Steps in a Marketing Plan7 Metrics8 Boston Consulting Group BCG8 Growth Strategies9 Marketing Strategy9 Four Strategies for Sustainable Advantage9 Chapter 310 Terms10 Theory11 Microenvironmental Factors11 Macroenvironmental Factors111Chapter 1 Terms Marketing a set of business practices designed to plan for and present an organizations products or services in ways that build effective customer relationships Marketing Plan A written document composed of an analysis of the current marketing situation opportunities and threats for the firm marketing objectives and strategy specified in terms of the four Ps action programs and projected or proforma income and other financial statements Need A person feeling physiologically deprived of basic necessities such as food water clothing shelter and safety Want The particular way in which a person chooses to satisfy a need which is shaped by a persons culture knowledgepersonality Market Refers to the groups of people who need or want a companys products or services and have the abilitywillingness to buy them Target Market The customer segment or group to whom the firm is interested in selling its products and services Exchange The trade of things of value between a buyerseller so that each is better off Marketing Mix Four Ps Product Price Place Promotion The controllable set of activities that a firm uses to respond to the wants of its target market Goods Items that can be physically touched P what about virtual goods P Services Intangible customer benefits that are produced by people or machines and cannot be separated from the producer Ideas Include thoughts opinions philosophiesintellectual concepts Price The overall sacrifice a consumer is willing to maketime money energyto acquire a specific good or service B2CBusiness to Consumer selling shit to consumers from businesses B2BBusiness to Business Selling shit to businesses from businesses Social Media The use of internet tools to easily and quickly create and share content to foster dialogue social relationships and personal identities Value Reflects the relationship of benefits to costs or what the consumer gives up for what he or she gets 2
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