MKT 100 Study Guide - Midterm Guide: Kijiji, Marketing, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Why market: build and maintain a loyal customer base, distinguish product/company from competitors, establishes strong brand; customer appeal, ability to protect the brand. Marketing: is a set of business practices designed to plan and present an organizations products or services in ways that build effective customer relationships. Marketing mix: the four p"s: product: create value, promotion: communicate value, price: transact value, place: deliver value. Product orientation: focus on developing and distributing innovative products with little concern about whether the products best satisfy the customer. * a good product sells itself . (took place during the turn of the century) Sales orientation: companies try to sell as many of their products as possible. Profits come from volume rather than repeat visits by satisfied customer. (1920-1950) Market orientation: focus on what customers want and need before they design, make, or attempt to sell product.