Marketing Day 2 - Marketing Day 2 14:10 Agenda Price vs...

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Marketing Day 2 14:10 Agenda Price vs value Marketing orientation o Sales vs marketing marketing tools Marketing Idea derby Last years winners on blackboard o Check it out—could help grade Marketing is about the consumer Marketing seeks to create value by discovering and satisfying needs of a  consumer Five key concepts Price vs value o Economists base demand on price o Consumers don’t base their purchases on price alone They also use value Value=benefits/price What you get for what you pay Example: grocery store shopping Benefits: o Quality o Selection o Convenience o Nutrition o Taste o Recipes
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o Safety o Freshness o Fun o Information Benefits can be assumed with certain brands Consumers trust brands Economic utility o Degree to which a customers wants or needs are satisfied Marketers might create by: Form  How the product is shown
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This note was uploaded on 09/23/2009 for the course MARKETING 2400 taught by Professor Mclaughlin during the Fall '08 term at Cornell.

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Marketing Day 2 - Marketing Day 2 14:10 Agenda Price vs...

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