MKT-210- Midterm Exam Guide - Comprehensive Notes for the exam ( 16 pages long!)
Document Summary
Marketing: the activity set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing plans: a written document that specifies the marketing activities for a specific period of time. Broken down into different components: how to product or service will be conceived or designed, how much it should cost, where and how it will be promoted, how will it get to its customer. Requires the 4 p"s ( product, place, price, and promotion) Can be performed by both individuals and organizations. Exchange: the trade of things of value between the buyer and the seller so that each is better off as a result. Evolution: with the turn of the century, manufacturers were concerned with product innovation, not with satisfying the needs of individual consumers. Sales-oriented: between the 1920-1950s, production and distribution techniques became more sophisticated, firms became more sales oriented.
