FB 2601 Week 1_1

FB 2601 Week 1_1 - An Overview of Marketing CHAPTER 1...

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    CHAPTER 1 An Overview of Marketing
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Learning Outcomes Define the term marketing Marketing Exchange Describe 5 business/ marketing orientations
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What is Marketing? American Marketing Association (AMA): “… function and … processes for (a) creating , (b) communicating and (c) delivering value to customers , and for managing customer relationships …” 1
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Is it Marketing?
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Customer Value Chapter PHOTO Here LO The relationship between benefits and the sacrifice necessary to obtain those benefits. Customer Value
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What is NOT marketing? “Marketing” is NOT synonymous with “sales” or “advertising” They are only a small part of Marketing, but they are most profitable or colorful ones 1
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Exchange Exchange Chapter PHOTO Here People giving up something to receive something they would rather have. LO Seller buyer
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Exchange LO At Least Two Parties Something of Value Communication and Delivery Freedom to Accept or Reject Desire to Deal with Other Party Conditions for Exchange
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For example, when demand is low… LO
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LO Product Price Place Promotion
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FB 2601 Week 1_1 - An Overview of Marketing CHAPTER 1...

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