BSB126 Lecture Notes - Lecture 1: Customer Relationship Management, History Of Marketing
Marketing – Introduction to Marketing
- Marketing is ‘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’
- Communication
- Marketing decisions which have to fit with other marketing decisions
oDistribution
oUnderstanding consumer behaviour
oSituation Analysis
oPartnerships, Collaborations, Relationships
- Value
oCost-benefit analysis (what do you get for what you give)
oCan be personal
- Branding
oEntirely driven by marketing
- Fundamentals of marketing can be applied to services as well as physical goods
- Marketing allows value to be communicated with advertising/creates value/distributes value
- Products include goods, services, and ideas
- Needs
oThings which ensure survival
oStates of deprivation
Physical
Social
Individual
- Wants
oShaped by culture and personality
- Demands
oWants backed by buying power
- If a marketer fails in any area, then the marketing strategy will always fail
- People, time, and processes can influence the effectiveness of marketing
- Production Orientation
oPeople will buy a product if its affordable and available
find more resources at oneclass.com
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Document Summary
Marketing is 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". Marketing decisions which have to fit with other marketing decisions: distribution, understanding consumer behaviour, situation analysis, partnerships, collaborations, relationships. Value: cost-benefit analysis (what do you get for what you give, can be personal. Fundamentals of marketing can be applied to services as well as physical goods. Marketing allows value to be communicated with advertising/creates value/distributes value. Needs: things which ensure survival, states of deprivation. Wants: shaped by culture and personality. If a marketer fails in any area, then the marketing strategy will always fail. People, time, and processes can influence the effectiveness of marketing. Product orientation: people like high quality, innovative products and are willing to pay for it, marketer"s attention should be focused on customer needs, not the product.
