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Additional Notes - brought under control of one department...

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Principles in Marketing (Mkt125) Additional Notes Universal functions of marketing is buying, selling, transporting, storing, standardizing and grading, financing, risk taking, and market information. Five stages of marketing evolution 1. Simple trade era - Time when families traded or sold their surplus output to local middlemen. 2. Production era - Time when a company focuses on production of a few specific products. 3. Sales era - Time when a company emphasized selling because of increased competition. 4. Marketing department era - Time when all marketing activities are
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Unformatted text preview: brought under control of one department to improve short-run policy planning and integrate the firm’s activities. 5. Marketing company era- Time when not only short-run now long-run plan and the whole company’s effort is guided by the marketing concept. Uncontrollable versus controllable • Market managers can analyze data in each environment when making decisions that can be controlled. For example, a manager can lead a firm into a product-market where competition is not yet strong. Marketers positions a product....
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