MKT 100 Chapter Notes - Chapter 1: Sales Promotion, Costco, Human Resources

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

Product: about creating value by designing products/services that meets the wants, desires and needs of customers. Size design packaging features, branding, guarantees, adding new products or services, which product should be developed, Price: transacting value, choosing correct pricing strategy, discounts and allowances, based on (cid:374)atu(cid:396)e of (cid:272)usto(cid:373)e(cid:396), (cid:373)a(cid:396)ket, (cid:395)ualit(cid:455) of (cid:272)o(cid:373)petitio(cid:374), (cid:272)o(cid:373)pa(cid:374)(cid:455)"s goals. Co(cid:373)(cid:373)u(cid:374)i(cid:272)ates (cid:448)alue to customer, high price can communicate quality. Place/distribution: delivering value, marketing channels chosen to move product, value added as it moves thru distribution channel, involves third parties, many steps and channel members involved, chain invisible to buyer, >business: access to capital, choice of supplier and/or buyer. >consumers: discretionary income, appeal of luxury products, shopping habits, Political-legal: laws and regulations, investigate laws and regulations of business/market when starting, political system in which business operates (no bribes), all businesses must operate in the same regulatory environment. Political aspects of environment should be considered because they will affect.