Marketing 305, Ch 1 Notes
Marketing 305, Ch 1 Notes MKT 305
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This 2 page Class Notes was uploaded by Brittany Smith on Saturday September 3, 2016. The Class Notes belongs to MKT 305 at Colorado State University taught by James Cook in Fall 2016. Since its upload, it has received 44 views. For similar materials see Fundamentals of Marketing in Marketing at Colorado State University.
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Date Created: 09/03/16
Fundamentals of Marketing Chapter 1 “Selling vs. Marketing” Selling o Oneway – persuading customers Marketing o Twoway – collecting information, then disseminating it o Depends on market research The Evolution of Marketing Industrial Revolution/Civil War Awareness o Necessity – bare necessity items displayed o No persuasion necessary of basic needs, especially in rural towns PostCivil War Selling o Need to generate demand if wanting to sell items from Industrial Revolution PostWWII – 1990s Marketing o How do we go from military production to consumer production? o Economy booming, demand explodes Open invitation for other producers in market Market competition Market Research o What do people want?? 1990s – Present Relationship Marketing o How do small shops beat large companies? o The business gets to know their customers on a personal level o Example Ritz Carlton Hotel’s Trained employees to have purposeful and causal conversations with customers to get information Created customer profile Next time customer comes, the hotel employees can be relational with the customer making them feel more welcome o Personalizes o Complaints vs. Praise One bad complaint makes it easier to lose a customer than many praises can keep a customer HOWEVER, the response to a complaint can save the relationship 2000s – Present Social Media Marketing o Facebook o Small business use a lot Activity vs. productivity Develop, make more business Use it for creating loyalty between owner and consumer, and consumer and consumer Encourage networking Use different platforms to promote different platforms 2010 – Present guerrilla marketing o Pushing envelope in ethical way o Unexpected marketing “Stall St. Journal” o Pushing unique and different ideas o Counterintuitive marketing
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