BUSN 1100 Chapter Notes - Chapter 12: Marketing, Value Proposition, History Of Marketing

• School: Northeastern University
• Department: Business Administration
• Course: BUSN 1100
• Professor: Crittenden William

Document Summary

Marketing is the entire process of creating relationships with customers by offering goods, services and experiences they value. Brand a name, term, design, symbol that identifies/represents a business. Business used to have production orientation in the times of the industrial revolution. Production orientation a past era in marketing that placed emphasis on increased output and production efficiency. In the 1920s, production eventually caught up and began to exceed demand. Sales orientation increased advertising, enlarged sales forces, and, occasionally, high-pressure selling techniques. In 1950s, companies realized that advertising wasn"t enough to sell the products, customers had to need to buy them, and thus became customer oriented. Customer orientation determining the needs of the customer and creating a product that will fulfill those needs. A detergent can make your clothes clean, soft and smell good. *bundles of benefits products that offer several benefits. *value proposition an innovation, service, or feature intended to make a company or product attractive to customers.