ARBUS200 Chapter 4: ARBUS 200 - Bygrave Summary
26 May 2016
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Marketing"s task is to identify and serve customers" needs. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large. Entrepreneurial marketing is the proactive identification and exploitation of opportunities for acquiring and retaining profitable customers through innovative approaches to risk management, resource leverage and value creation. Usually divided into the core product (essential good/service) and the augmented product (set of attributes peripherally related to the product) o o o. Push = move product through channels using trade promotions, trade shows, etc. Pull = create a user demand and rely on that demand to pull the product through the channel (target is end users) Use anything that is appropriate, affordable and least possible to evaluate. Reach= % of a comp. target market exposed to campaign over a certain time period. Frequency= # of times a market member is exposed in a certain period.
