marketing (1-4)

marketing (1-4) - CHAPTER 1: OVERVIEW OF MARKETING...

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CHAPTER 1: OVERVIEW OF MARKETING Marketing: creating, capturing, communicating, delivering, and exchanging offerings that have value. MARKETING'S CORE ASPECTS Core 1: Satisfying customer needs and wants begins with understanding their needs and wants develops products and services Core 2: Marketing entail an exchange the exchange can occur between two parties, not simple a buyer and a seller echanging moner for a good or service, but alse can be an exchange of information for convenience. Core 3: marketing requires product, price, place, and promotion decisions The 4ps or the marketing mix: Product: creating value Goods are items that you can physically touch. (reebok shoes, coca-cola) Services are intangible customer benefits that are produced by people or machines and cannot be separated from the producer. (airlines, hotels, banking insurance) Ideas inculde thoughts, opinions, and philosophies, and intellectual concepts. (give talks,sponsor bike helmet poster) Price: capturing value. It can be money, time, and energy. Place:
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marketing (1-4) - CHAPTER 1: OVERVIEW OF MARKETING...

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