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Module 1 Notes

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Ryerson University
MKT 100
Paul Finlayson

Marketing: Module 1 Section 1: What is Marketing? Marketing: business discipline responsible for product innovation and diffusion of innovation Also about doing things quickly, and working through competition Relates to change and profit There is quality and price variants across all products Therefore a few suppliers products and services are best buys, most are not Marketing not about developing excellence in creating advertising and promotions that claim the superiority of unproven qualities of products This is what some pharmaceutical industries have been accused of Marketing not just about advertising, but also about new inventions that increase product quality, reduce price, and increase customer satisfaction Must stay competitive United States becoming less of a player in the markets and is turning to Asia If North America maintains leadership in marketing in product and service innovation, citizens will prosper Section 2: The History of Trading and Wealth Creation Prof Jared Diamond: societies that prospered and came to dominate were lucky to start off in environments with the right materials and climates to invent and use tools, to develop agriculture and herding Dominant societies conquering less developed cultures Today, societys ability to trade rather than raid that is crucial to its survival, success, prosperity and power www.notesolution.com
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