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Unformatted text preview: Chapter 4 Marketing and Exchange The purpose of marketing is to create exchanges that satisfy the perceived needs and wants of individuals and organizations Advertisings Role in the Marketing Plan Advertising is o One of several marketing communication techniques under the umbrella term promotion o Promotion is one of the four elements of the marketing mix, which also includes product, price, and distribution Advertisings Role in the Marketing Plan Consumer Needs & Product Utility Utility is the products ability to satisfy both functional needs and symbolic wants Types of Utility Form Task Possession Time Place Psychic Exchanges, Perception and Satisfaction Exchange - the purpose of marketing and advertising. o Via advertising availability and selection options Perception is Everything o Two levels: o Product needs, wants, objectives o Advertising gives perception of the product and its utility Satisfaction - the goal of the consumer o Advertising reinforces Types of Markets QuickTime b and TIFF (Uncompresse are needed to see Market o Where goods are sold and bought or o...
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This note was uploaded on 03/18/2008 for the course ADV 205 taught by Professor Bukovac during the Spring '08 term at Michigan State University.
- Spring '08