armstrong01_basic

Need want f ulfillment 1 9 need want sat isfier s pr

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Unformatted text preview: ar ket t o sat isfy a need or want . Need / Want F ulfillment 1-9 Need / Want Sat isfier s • Pr oduct s: Per sons Places Or ganizat ions I nfor mat ion I deas • Ser vices A ct ivit y or Act benefit offer ed f or sale t hat is essent ially i nt angible and does not r esult i n t he owner ship of anyt hing. of 1 - 10 M ar ket ing M yopia Seller • Seller s pay mor e at t ent ion t o t he specific pr oduct s t hey offer t han t o t he benefit s and exper iences pr oduced by t he pr oduct s. pr They • T hey focus on t he “want s” and lose sight of t he “needs” and 1 - 11 Value & Sat isfact ion • I f per for mance is lower t han expect at ions, sat isfact ion is low l ow • I f per for mance is higher t han expect at ions, sat isfact ion is high h igh 1 - 12 Exchange vs. T r ansact ion • Exchange: A ct of obt aining Act a desir ed object f r om someone by offer ing somet hing in r et ur n. • Tr ansact ion: A t r ade of values bet ween t wo par t ies. par One par t y gives One X t o anot her par t y and get s Y i n r et ur n. Can i nclude cash, cr edit , or check. cr 1 - 13 What is a M ar ket ? The •...
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