Marketing_Management_Lau

Marketing_Management_Lau - Introduction to Marketing Peter...

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1 Introduction to Marketing Peter Drucker, “The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service fits him or her and sells itself.”
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2 Introduction to Marketing Kotler‘s definition of Marketing : - Marketing - is the human activity directed at satisfying the needs and wants through exchange processes .
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3 Introduction to Marketing Human Need - is a state of felt deprivation in a person. - e.g., hunger, security, shelter
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4 Human Wants - are the from needs take as shaped by culture and individual personality. - e.g., Singaporean Noodles, Mobile Phones,Honda Autos and Yamaha Stereos.
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5 Introduction to Marketing Demands - people wants become backed up by purchasing power. - e.g., a person wants a house but can only afford an apartment
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6 Marketing Philosophies Production Concept Consumers will favour those products that are available and highly affordable.
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7 Marketing Philosophies Production Concept Mouse Trap Example: We build enough mouse traps to meet demand and supply them at a low price.
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8 Marketing Philosophies Production Concept Consumers will favour those products that are available and highly affordable. Management should concentrate on improving production and distribution efficiency (cost of distribution).
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9 Marketing Philosophies Product Concept Consumers will favour those products that offer the most quality and performance features.
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10 Marketing Philosophies Product Concept Mouse Trap Example: We will produce mouse traps that have the best springs and tripping devices on the market .
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11 Marketing Philosophies Product Concept Consumers will favour those products that
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Marketing_Management_Lau - Introduction to Marketing Peter...

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