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

exam 1 review-1

by: Cheryl Li

exam 1 review-1 BADM 320

Cheryl Li


Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

review for exam1
Class Notes
25 ?




Popular in

Popular in Business

This 2 page Class Notes was uploaded by Cheryl Li on Friday September 30, 2016. The Class Notes belongs to BADM 320 at University of Illinois at Urbana-Champaign taught by wholers in Fall 2016. Since its upload, it has received 8 views. For similar materials see in Business at University of Illinois at Urbana-Champaign.


Reviews for exam 1 review-1


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: 09/30/16
What is marketing?  - General Types of Marketing o Product  o Service o Personal  o Place o Cause o Organization - Customer Needs & Wants - Niche::find who want and can afford your product o Need o Wants o Demands: want, but cannot afford - Value proposition: o Why clients buy from you (listen to their needs & wants) - STP: Segmentation, targeting and positioning o Segmentation: divide the market into submarkets o Target: evaluate submarkets, decide which to invest o Positioning: connect to needs and wants of specific market; develop unique  marketing mixes 4 Ps for specific groups - Customer service : good: returning customers: more money - Products offerings: the mix of products, services, information, experiences that can  satisfy customers’ wants and needs - Marketing Myopia (::::): where the best made products can lose - 4Ps of marketing: o Products: creates value   variety, quality, design, brand, packaging, size, features  products, service, ideas o Price: captures the value of the products  Know customers’ perception on price o Place: delivers that value to the customer  Website, supply chain; fast food o Promotion: communicates the value  Advertising, sales, selling, public relations, IMC  Products= engineers, Pricing= accountants, Place= logistics, Promotion=  advertising  - Marketing is done by individuals & firms:  o B2B marketing: selling products from a business to another business  Supplies: Michelin sells ties to general motors  Products: Nintendo sells WiiU games to Target o B2C: selling products from a business to consumer  Buy your laptop at best buy o C2C: consumers selling their products to other consumers  eBay - stakeholders: 利利利利利 o employment marketing o industry marketing o retailers      Value based marketing:            o Firms share information, balance benefits with cost, build relationships with  customers  - Why marketing important? o Inspires entrepreneurs - The chart P23: how to create and capture customer value o Understand the market, customers’ needs and wants o Have a customer value driven marketing strategy :show how your product  increases customer value: o Develop integrated marketing program (better than competitors) o Develop client relationships : client has to feel like they won


Buy Material

Are you sure you want to buy this material for

25 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

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."

Jennifer McGill UCSF Med School

"Selling my MCAT study guides and notes has been a great source of side revenue while I'm in school. Some months I'm making over $500! Plus, it makes me happy knowing that I'm helping future med students with their MCAT."

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

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.