BU121 Lecture 18: Marketing
Document Summary
Finding a need and fill it, then capture the value to the customer and generate revenue. First need to und the needs of the customer. Connection between ur offering to the customer. Core value and building relationship: read textbook. Und the ext env. (bu111): how the ext env impact ur biz model. Competitive advantage-3 types (lab manual p. 42-43) porter"s generic competitive strategies. Buyer behaviour (their thought process, und it, influence them) Market research (critical for project; not tested) It"s a channel to convey what is ur competitive advantage. But u also need other csr to support; but those 2 are the most directed to marketing. Idea of want to satisfy them: reaching the customer, having marketing strategy, reaching the customer through that system. Another word: satisfy what they want or needs, provide unique benefit (comp adv), need to determine target market (which segments, who can u satisfy), their need have not been met sufficiently by the competition.
