BUS 343 Lecture Notes - Lecture 1: Attention Economy, Marketing Mix, Crowdsourcing

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Srabana Dasgupta

Document Summary

Bus 343 chapter 1: welcome to the world of marketing. *customer value: the benefit a customer receives from buying and using a good or service in relation to the costs and sacrifices of buying and using it. (customer look at value over the life of the product. *def#1: marketing id the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (all about value) *def#2: the process of achieving individual and organizational objectives by creating superior customer value for one or more target markets with a sustainable strategy. (the prime directive of marketing is to achieve objectives. ) *marketing concept: focus on achieving organizational objectives by understanding customer needs, and creating and delivering value in exchanges that satisfy the needs of all parties. *need: difference b/t a customer"s actual state and some ideal or desired state.