MGMA01H3 Study Guide - Midterm Guide: Mastercard, Information System, Transact
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3 cs - strategies: consumer, competition, company. 4 ps - tactics: promotion, place, product, price. Children, parents to show that barbie is a representation of future (career) Promotion: ads, display of new idea/ future you barbie. Other issues: ethical issues, loyalty vs relationship (cid:862)u(cid:374)dersta(cid:374)di(cid:374)g co(cid:374)su(cid:373)er is ke(cid:455)(cid:863) Four essential factors for marketing: two or more parties with unsatisfied needs, desire/ability on their part to be satisfied, a way for parties to communicate/to transact, something to exchange. Session 2 part 1: different orientations to marketing. 2 for deals, store sales: marketing (customer based, assumes that needs are unmet, can provide at a profit, focus on providing value, understanding the customer is important. Consequences of outward orientation: pricing cost-plus or value-based, marketing expenses or investments, organization structure by product/process or by customers. Customer value net benefit from purchasing + consuming a product/service: offer products that give value so,
