Mktg outline (CHAPTER 1).docx - PRINCIPLES OF MARKETING...

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PRINCIPLES OF MARKETINGCHAPTER 1 (MARKETING PRINCIPLES AND STRATEGIES)A. MARKETING, DEFINEDMarketingis the social process by which individuals and organizations obtain what they need and want throughcreating and exchanging value with others.”-Kotler and Armstrong (2010)Marketingis the activity, set of institutions, and processes for creating, communicating, delivering, and exchangingofferings that have value for customers, clients, partners, and society at large.-American Marketing AssociationMarketing is also the process of conceptualizing, creating, developing, promoting, and sustaining products and services,focusing on the needs and preferences of the costumer.THE GENERIC EFFECT-the brand’s personality, if developed and nurtured, becomes embedded in the minds of the consumers; it can becomethe top choice in their purchases.What is the effect of consumer’s increased income?- The increase capacity, and improved willingness to buy and choose from among the products that are available.

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Term
Summer
Professor
Aguinalde
Tags
Marketing, Marketing Association, Events Marketing, Sachet Marketing

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