RSM250H1 Study Guide - Final Guide: Fixed Cost, Toothpaste, Brand Valuation
Document Summary
2-fold goal: attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Must take care of customer , market share, and profits will follow. Satisfying customer needs in a socially responsible and ethical manner. Peter tucker aim of marketing is to make selling unnecessary": selling and advertising only part of marketing mix. Marketing mix = a set of tools used to satisfy customer needs and build lasting customer relationships. Understand the market place & customer needs and wants. Construct a marketing program that delivers superior value. Create value for customers & build customer relationships. How will we be different: customer needs, wants & demands. Wants = form human needs take as shaped by culture and individual personality. Demands = human wants that are back by buying power: market offering = some combination of products, services, info, entities, places, organizations, ideas or experience offered to a market to satisfy a need or want.
