MARK1012 Chapter Notes - Chapter 1-2: Financial Statement, Customer Engagement, Customer Relationship Management
MARK1012 CHAP 1 & 2
MARK1012 Marketing Fundamentals Summary
Chapter 1: Marketing Overview
Marketing: is the activity, set of organisations and processes that create, capture,
communicate, deliver and exchange offerings that have value for customers, partners,
clients and society.
Key aspects of marketing
-Satisfying the needs & wants of customers
-Involves an exchange
-Product (creating value), price (capturing value), place (delivering value) & promotion
(communicating value) decisions
-Performed by individuals & organisations
Marketing Plan: A written document that analyses:
-The current marking situation
-Opportunities & threats for the firm
-Marketing objectives and strategy specified in terms of the 4 P’s
-Action programs
-Projected financial statements
How marketing firms become value driven
1. Sharing Information
2. Balancing benefits with costs
3. Building relationships with customers
4. Connecting with customers through social media
Importance of marketing
-Expanding a firms global presence
-Pervasive across marketing channel members
-Enriches society
-Entrepreneurial
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