Summary
Marketing lecture 1 (summary)
- Course
- Institution
- Book
summary of marketing lecture 1. simple and effective!
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
TEST BANK for Principles of Marketing 18th Edition by Philip Kotler and Gary Armstrong. Complete Chapters 1-20 A+ Guide ISBN:9780136708582 Newest Version
-
TEST BANK for Principles of Marketing 18th Edition by Philip Kotler and Gary Armstrong. Complete Chapters 1-20 Newest Version 2024 EDITION ISBN: 9780136708582
-
Summary Marketing 1 (BUS2010S)
Seller
Follow
fleurhuisman90
Content preview
Marketing lecture 1Buy Book: principles of marketing global 19th edition
What is marketing?
Adding value to your product.
All customers are different.
Whole business seen from the point of view of its final result (from customers).
Create value from customer in order to extract the value in return for the firm.
Creating growth opportunities.
So, marketing is a process by which companies create value for customers and build
profitable customer relationships.
Satisfaction customer needs:
1. Market definition (which market)
2. Relevance of needs (what influences buying-decision)
Dual value creation:
1. Different options for customers
2. Creating value for customers
3. Creating value for companies.
Five core marketplace concepts:
1. Needs, wants and demands
2. Market offerings (products, services and experiences)
3. Value and satisfaction
4. Exchanges and relationships
5. Markets
1. Needs can be shaped into wants. Wants become demand only if you have the
willingness and ability to actually buy it.
2. Market offer is what you offer to a market. The market is a set of buyers. The best
way to provide maximal service, products and value is to be customer focused
instead of product focused.
3. First impression is important. Satisfied customers will buy again, dissatisfied
customers switch to the concurrent.
4. Exchange is the act of obtaining a desired object from someone by offering
something in return. Marketing actions try to create, maintain and grow desirable
exchange relationship.
5. Market = a set of potential and actual buyers. Consumers market when they:
Search for products
Interact with companies to maintain information
Make purchases
Share their experiences
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller fleurhuisman90. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.25. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now