MKT 100 Study Guide - Midterm Guide: Competitive Advantage, Market Segmentation, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

Marketing: set of business practices designed to plan for and present an organization"s products/services in a way that builds effective customer relationships. Six core aspects of marketing: marking is about satisfying customer wants/needs. Develop product services to target markets, people who are willing to buy it: marketing entails an exchange. Seller and buyer, cards for data analysis: marketing requires 4 p"s. Price (list price, discounts, credit term, time, energy, money) Place (where you going to sell it, locations, supply chain) Promotion (advertising, sales promotion, public relations: marketing can be performed by individual or organizations. B2c: all retailing is business to consumer selling. B2b: wholesaling is often only business to business. C2c: swap, consumer sell to other consumers: marketing occurs in many settings. Entire industries (milk industries: marketing helps create value. Value: fundamental purpose of making is to create value for both the firm and customer. Value-based era, focuses on customer wants, but includes giving greater value.