Class notes
Class notes MKT 101 (MKT101)
- Course
- MKT 101 (MKT101)
- Institution
- Hofstra University
In-depth notes on basic marketing.
[Show more]
Seller
Follow
Content preview
Marketing mixStrategic marketing w the four p’s
- Product
- Place
- Price
- Promotion
Service and product can be interchangeable = same thing
Distribution = where the product is available and how many outlets
Exclusive vs intensive
Intensive- available everywhere
Exclusive - sold to certain areas and certain people
Social responsibility/ethics
Might cost profit but it may be better for the environment or seen as ethically better
Price/quality relationship
,ADVERTISING
- Paid for publicity
- From the company
SALES PROMOTION
- Buy one get one free
PR OR PUBLICITY
- Info about a company not from a company
- Can be positive or negative
PERSONAL SELLING
- Only prevalent in the biz-to-biz market
- For specific niche purposes
- For schools: desks white boards etc
Target market → who you are trying to appeal to buy your product
Target audience→ who the promotion is aimed at
(Can be different and one may have multiple while the other doesn’t but they go hand in hand)
Competition - their competitors in the market
- Other companies selling to the same target market
- Or selling the same product
Product mix
All the products they make is the product mix
Ex: apple, ulta
, For smaller companies niche marketing is better
- Specific products for specific groups
SWOT analysis
Strengths
- What do they do better
Weaknesses
- What do they do worse
Opportunities
- Change in market place
Threats
- Outside occurrences as laws and things of such
Risky markets and products due to the laws placed on them
- Alcohol - tobacco
- firearms - marijuana
- gambling
Differential advantage
- Whats makes you product more desirable to the consumer then ur competitors
products
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 nadiaayari. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52928 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now