AEM 2400 Study Guide - Comprehensive Midterm Guide: Subliminal Stimuli, Celebrity Cruises, Aspirin

• School: Cornell University
• Department: Applied Economics & Management
• Course: AEM 2400
• Professor: Debra Perosio

Document Summary

Marketing is a balancing act (for the customers) A philosophy, an attitude, a perspective, a management orientation. A set of activities (functional part): products, promotion, place, pricing. Need a balance of philosophy and marketing mix. We create value in a marketing situation through exchanges. Marketing can"t occur unless you have an exchange of some sort. Research is linked to every type of marketing. Research is done on marketing orientation, customers, external environment (e. g. economy), marketing mix (4 p"s) Customers are fickle important to understand who are your customers and what motivates them. Strategic planning 4 p"s product, promotion, place, price. Make yourself unique personality, family background, bilingual, etc. Marketing orientation (how a company thinks of itself philosophy) Lacks a customer focus, fails to ask is this needed or wanted by customers? . What is most convenient for firm to offer/ Sales company has to much inventory, too much competition, needs cash now.