BU352 Chapter Notes - Chapter 1: Marketing Mix, Retail, Ikea
Document Summary
Getting money from a bank is a service and banks want to have (cid:272)o(cid:374)(cid:448)e(cid:374)ie(cid:374)t a(cid:374)d fast atm"s to add (cid:448)alue for (cid:272)o(cid:374)su(cid:373)ers. Informs, persuades and reminds: sponsoring sports teams and campaigns is a huge way companies promote their product, methods of marketing, b2b (business to business): ex. Automobile manufacturers making parts for various car companies: b2c (business to consumer): retailers selling variety of goods to people, c2c (consumer to consumer): etsy. The four orientations/philosophies of marketing: product orientation. Collecting information and using it to target a customer with special: connecting with customers using social and mobile media promotions. Why is marketing important: e(cid:454)pa(cid:374)ds fir(cid:373)"s glo(cid:271)al prese(cid:374)(cid:272)e, marketing is prevalent across marketing channel members, firms cannot work in isolation, must have integrated flow of operations between supply chain. If there is inaccuracy between supply chain, there could be many problems (ex. High inventory for low demand of product = wasted goods and higher costs: marketing enriches society.
