BU352 Chapter Notes - Chapter 1: Marketing Mix

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19 Jun 2018

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BU-352 Chapter 1: Overview of

Marketing

What is Marketing?

Marketing

oSet of business practices designed to plan for and present organization’s products and

services in ways that build customer relationships

Marketing Plan

oSpecifies the marketing activities for a period of time, broken down into:

Design

Price

Promotion

Location

Need

oDeprivation of a necessity of life

Want

oThe way in which a person chooses to fulfill a need, shaped by their knowledge, culture,

and personality

Marketing Mix

oProduct, Price, Promotion, Place

Orientations

oSales, Product, Market and Value

How Do firms become more Value Driven

Sharing Info

Balancing Benefits with Costs

Building relationships with customers

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