Marketing summary Principles of Marketing 18th edition
Marketing Management summary of the entire course
Summary: Principles of Marketing 18e Global Edition - Marketing (MAN-BCU2008)
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Breda University of Applied Sciences
Creative Business
Priciples of Marketing (MAR1)
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Chapter 1 summary
Marketing: The process by which companies engage customers, build strong
customer relationships, and create customer value in order to capture value from
customers in return.
Need: The difference between a consumer’s actual state and some ideal or desired
state. States of felt deprivation.
Needs are related to physical or psychological functions.
Types of needs:
- Physical needs
Food, clothing, warmth, and safety.
- Social needs
Belonging and affection.
- Individual needs
Learning, knowledge, and self-expression.
Needs for media consumption:
- Cognitive needs
Factual information.
- Affective needs
Emotional involvement and feelings.
- Personal integrative needs
Self-confidence, status and re-assurance.
Para social interaction: Relationship with characters.
- Social integrative needs
Watching together and talking about it
- Tension release needs
Being amused/entertained
Relax
Want: A desire for a particular product to satisfy a need in specific ways that depends
on an individual’s history, learning experiences and cultural environment.
Something you would like to have.
Demand: Occurs when one couples desire with buying power to satisfy a want.
A customer may desire something but he/she may not be able to fulfil this desire.
Benefit: Occurs when a product satisfies a need or want.
Market offerings: Some combination of products, services, information, or
experiences offered to a market to satisfy a need or want.
Marketing myopia: The mistake of paying more attention to the specific products a
company offers than to the benefits and the experiences produced by these
products.
Creating value:
- From
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