MKTG1001 Lecture Notes - Lecture 8: Marketing, Cause Marketing, Marketing Mix

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

Product mix and product attributes + other supporting marketing mix elements-> target market positioning. Three competitive market strategies: build a better product at the market price, build the same product at a lower price, create a monopoly through customer franchise. The function of a product is to satisfy a need (utilitarian view of what a product does, because we cater to needs which are basic and some are more desires -> maslow"s hierarchy of needs) What is a product: anything offered to the market for attention, acquisition use or consumption. physical goods, services and experiences. Event marketing: experiential aspects, staged events and entertainment. Person marketing: developing and building a high profile of an individual to generate money. Political marketing: marketing of the politician or political messages. Cause related marketing: designed to change social attitudes, has social impact. Linked to behavioural change, encourage people to change or adopt new behaviour.