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Introductory Marketing Notes.docx

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Administrative Studies
ADMS 2200
Richard Patterson

Introductory Marketing Notes Chapter 1Customer Loyaltymusic to a marketers earsTechnology revolutioninexpensive global networkstransfer voice messages text ad graphics also send dataNew approaches to marketingExample decline in popularity of newspapers incline of popularity of blogs job sites etc Communications technologyRapid change in business landscapesnew challengesCustomer satisfaction is a huge important in the marketing fieldUtility The wantsatisfying power of a good or serviceForm utility created when firm converts raw materials and component input into finished goods and servicesmarketing function focuses on influencing consumer audience preferences the organizations production function creates utilityTimeSpace utilities occur when consumers find goods and services available when and where they want to purchase themExample Vending machines convenient storesOwnership Utility Creating a consumerIdentify needs in the marketplacewhich needs the organization can profitably serve Develop goods and services to convert potential buyers into consumersMarketing Organizational function and a s
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