Marketing and Exchange 9-26-07

Marketing and Exchange 9-26-07 - Marketing and Exchange The...

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Marketing and Exchange The purpose of marketing is to create exchanges that satisfy the perceived needs and wants of individuals and organizations Advertising’s role in the marketing plan Advertising is: One of several marketing communication techniques under the umbrella term “promotion” Promotion is one of the four elements of the marketing mix, which also includes product, price, and distribution Utility is the product’s 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. Via advertising – availability and selection options Perception is everything Two levels o Product o Needs, wants, objectives o Advertising gives perception of the product and it’s utility Satisfaction – the goal of the consumer o Advertising reinforces
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This note was uploaded on 03/19/2008 for the course ADV 205 taught by Professor Bukovac during the Fall '08 term at Michigan State University.

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Marketing and Exchange 9-26-07 - Marketing and Exchange The...

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