New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Marketing 301: Week 1 Notes

by: Alicia Polcha

Marketing 301: Week 1 Notes MKTG301

Marketplace > Marketing > MKTG301 > Marketing 301 Week 1 Notes
Alicia Polcha
Penn State
GPA 4.0
View Full Document for 0 Karma

View Full Document


Unlock These Notes for FREE

Enter your email below and we will instantly email you these Notes for Intro to Marketing

(Limited time offer)

Unlock Notes

Already have a StudySoup account? Login here

Unlock FREE Class Notes

Enter your email below to receive Intro to Marketing notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

Unlock FREE notes

About this Document

These notes are from the first week of marketing with Professor Taran.
Intro to Marketing
Dr. Zina Taran
Class Notes
Marketing, business




Popular in Intro to Marketing

Popular in Marketing

This 3 page Class Notes was uploaded by Alicia Polcha on Friday January 15, 2016. The Class Notes belongs to MKTG301 at a university taught by Dr. Zina Taran in Spring 2016. Since its upload, it has received 62 views.

Similar to MKTG301 at University


Reviews for Marketing 301: Week 1 Notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 01/15/16
1. Marketing in a Nutshell a. The Angry Hippo Intro Tale i. Pests invade a poor area 1. Pests are actually hippos 2. Hippos are very mean and aggressive creatues ii. Villagers try to fight these pests iii. The village already has a poor agriculture 1. Village is in desperation due to pests iv. Priest of village wants to stop fighting and suggests and alternative 1. Suggests to change their way of living 2. Villagers think he is crazy! How will they survive? v. Ecotourism is the answer 1. Eco  ecosystem ; Tourism  tour different ecosystems vi. There are few hippos left in Africa so priest suggests a different  target 1. Marketing and Sales instead of fighting hippos 2. Start  selling tours of their ecosystem with the hippos 3. This way they leave the endangered animals alone vii. Everyone benefits from this market decision 1. Citizens of the world  feel good that there is an area where animals can thrive and not be harmed 2. Villagers  have a new way of living and benefit form this  way of life; no longer have to depend on poor agriculture  but ecotourism 3. Hippos get to thrive and live life without threats 4. Tourists  able to learn of this ecosystem b. Marketing Questions i. Who are the customers? ii. What are their values iii. What do they want? 2. What is marketing? a. Process by which companies create value for customers and build strong  customer relationships to capture value form customers in return b. Kotler’s Social Definition of Marketing i. “Marketing is a social and managerial process by which  individuals and groups obtain what tey need and want through  creating and exchanging products and value with others.” c. The Marketing Process 1. Understand the marketplace a. Customers needs and wants 2. Design a customer­driven marketing strategy 3. Construct a marketing plan that delivers superior value a. Customer equity­value in customer’s eyes 4. Build Relationships 5. Get profit d. Core Marketing Concepts i. Needs, wants, demands 1. What is a need to you? a. Based on circumstances b. Necessity to keep you alive c. Like a need for water ii. Values and Satisfaction 1. Value *on exam a. Customer value b. Value that customer derives form my offer c. What is value for product? (benefit0 i. Expensive purse 1. Lugguage/usage of product 2. Social acceptance/psychological  feeling 3. Confidence ii. Value: Cost vs benefit 1. Not just a monetary value iii. Satisfactory: Does it work? Is it worth it? 1. Satisfied customers come back iii. Exchange, transactions, and relationships 1. Transactions­money from consumer iv. Markets 1. Be mindful of economic’s supply and demand curve 2. Potential and actual buyers of product 3. Market is our buyers v. Market Offers 1. The stuff we sale  a. Can be product (like a purse) b. Can be a service (lawn care) c. Can be a place/experience (African village tour) i. See Angry Hippo Tale in beginning of notes e. Real Life examples i. Harley Davidson is not just a bike 1. Lifestyle 2. Experience 3. Transportation 4. Culture and friendships f. Marketing System i. Consists of all actors (suppliers, company, competitios,  intermediaries, an end users) in the system who are affected by  major environmental forces (environment  business environment) 1. Demographic 2. Economic 3. Physical 4. Technological 5. Political (legality) 6. Socio­cultural g. Marketing Management i. The art and science of choosing target markets and building  profitable relationships with them 1. Questions: a. What customers will we serve? (Target Market) b. How can we serve customers best? (Value  proposition)


Buy Material

Are you sure you want to buy this material for

0 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.