A set of interdependent orgs eases the transfer of ownership as product move from producer
to business or consumer.
Channel member (intermediaries ): all parties in the marketing channel between
producer and final consumer
Organizational overview of strategy
Corporate strategy (highest level)
(1) Overall direction of org (2) Type of business (3) Allocate of key resource
Business strategy (SBUs) (Second level)
(1) Overall direction of SBUs (2) A subgroup of a busin
the activity set() of institution and processes for :
3. Delivering and exchange offerings
(Have value for customer, clients, partner and society at large)
Definition 2 (from American marketing
-is everything, both un/favorable, that a person receive in an exchange.
-is a good, service, or idea consisting a bundle of in/tangible attributes that satisfies consumers and is
received in exchange.
Communication by marketers that informs, persuades and remind potential buyers of a product in order to
influence an opinion or elicit () a response.
Combination of promotion tools used to reach the target market and fu
Ethics: refers to the moral principles or values that generally govern the conduct of an
individual or org
Laws: are the values and standards enforceable by the courts
Legal Proper tra
-the process of planning, collecting, and analyzing data relevant to a marketing
1. Improve the quality of decision making 2. Trace marketing or operation problems
3. Focus on the importance of keeping custom
Market: current and potential customers with needs1 or wants2 and ability1 and
willingness2 to buy
Market segment: a subgroup of people or org sharing one or more characteristics that
cause them to have similar product needs
Internal and external environment
In: controllable by MKT manager/org (E.g. MKT mix/ 4Ps)
Ex: cannot do so, MKT manager only influence or adapt to
Understanding the external environment
Environmental scanning: the collection and interpretation o
What is price?
-which is given up in an exchange to acquire a good/service.
1. Money 2. Item with utility() 3. 1+2
Sacrifice effect of price: money, time ,dignity()
Information effect of price: infer quality information based on price
Processes a consumer uses to make purchase decisions, as well as use and dispose of purchased goods or
services (includes factors that influence purchase decision and product use.)
Marketing managers need to know
MM2711 Introduction to marketing
Individual report 2013
Ng Ka Chun, Hadyn
Student no.: 13114431D
The controversy between business practices and ethical responsibilities of
companies has long been existed in the modern society, and yet, nobody could draw a