MKTG 300 Chapter Notes - Chapter 1: Original Equipment Manufacturer, Marketing Myopia, Step One

• School: University of San Diego
• Department: Marketing
• Course: MKTG 300
• Professor: O'' Neal Carlton

Document Summary

Marketing (cid:314) creating value for customers & building strong cr to capture value from them in return. Abbreviations: cr - customer relationships; - change; comp - company; mktg - marketing. Needs (cid:314) ants (cid:314) demands products and services. Engaging customers profitable relationships & value proposition (set of benefits from (cid:312) marketing myopia (focused too much on the product than building cr) Modern products come with services = hybrid (ex: hotel with beds, gym with equipment) products/services you promise to satisfy customer"s needs) Production concept (cid:314) consumers will favor products that are available & highly affordable, so focus on improving production & distribution efficiency (cid:314) can lead to myopia. Product concept (cid:314) consumers will favor products with most quality, performance, & features, so focus on making continuous product improvements (cid:314) can lead to myopia. Selling concept (cid:314) consumers won"t buy enough of the firm"s products unless the firm undertakes a large scale selling & promotion effort (inside out)