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Marketing 300 Week 1

by: Alexa Rains

Marketing 300 Week 1 MKT 300

Alexa Rains
GPA 3.76

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About this Document

These notes cover Chapter 1: An Overview of Marketing
Joyce L. Meyer
Class Notes
Marketing, business
25 ?




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This 2 page Class Notes was uploaded by Alexa Rains on Saturday January 30, 2016. The Class Notes belongs to MKT 300 at University of Alabama - Tuscaloosa taught by Joyce L. Meyer in Spring 2016. Since its upload, it has received 9 views. For similar materials see Marketing in Marketing at University of Alabama - Tuscaloosa.


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Date Created: 01/30/16
MKT  300  Chapter  1:  An  Overview  of  Marketing     Marketing  -­‐    the  activity,  set  of  institutions,  and  processes  for  creating,  capturing,   communicating,  delivering,  and  exchanging  offerings  that  have  value  for  customers,  clients,   partners,  and  society  at  large     Core  Aspects  of  Marketing:     Creates  value     Occurs  in  many  settings     Performed  by  individuals  or  organizations     Requires  4  P’s       Product,  Price,  Place,  and  Promotion     Entails  an  exchange     Satisfies  customer  needs  and  wants     4  P’s     Product  -­‐  creates  value                  Goods,  services,  and  ideas     Price  -­‐  captures  value     Place  -­‐  delivers  value     Promotion  -­‐  communicates  value     Supply  Chain:     Production  -­‐  Manufacturer  makes  the  monitor,  sells  to  retailer     Sales  -­‐  Retailer  sells  PC’s  and  monitors  to  consumers     Resale  -­‐  Consumer  A  purchases  a  computer  new,  sells  it  used  to  consumer  B     Marketing    impacts:     Society     Customers     Employees     Supply  Chain     Firms  become  value  driven  by:     Sharing  information     Balancing  benefits  with  costs     Building  relationships  with  customers     Connecting  with  customers  using  social  and  mobile  media       93%  of  marketers  use  social  media       4.2  billion  people  link  to  social  media  through  their  mobile  devices     Importance  of  marketing     Can  be  entrepreneurial  (Oprah)     Enriches  society  -­‐  product,  practices,  communities,  environment     Extends  global  presence     Pervasive  across  channel  members  -­‐  raw  material,  manufacturer,  retailer,  consumer    


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