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Jan30 - 1/30 Environmental Context of IBP Campaigns 1...

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1/30 Environmental Context of IBP Campaigns 1) Environmental Context of IBP Campaigns I) Marketing - “The set of human activities directed at facilitating and consummating mutually beneficial, long-term, exchange relationships” I.A) Market should focus on making a relationship with the consumer (I.A.a) Marketing def. in textbook pg. 22. II) Market-Directed economy I.B) USA is best example on earth what a Market-Directed economy. I.C) Mechanism that allocates resources to meet wants and needs I.D) Four basic eco life: (I.D.a) Firms compete for consumer’s favor and operate to make a profit, but this is NOT guaranteed. (I.D.b) Consumers are NOT forced to buy any brand (I.D.b.i) Free to make our own decisions (I.D.b.ii) Some exceptions to that being sales tax (social necessities) (I.D.c) Firms make their own decisions (I.D.d) Caveat emptor – “Let the buyer beware.” III) Natural pressure I.E) Competition I.F)Specialization (I.F.a) To do something you’re good at I.G) Efficient performance (I.G.a)
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