Mar-3023 Lecture Notes - Lecture 2: Peter Drucker, Spanx, Redbox
Document Summary
The aim of marketing is to make selling unnecessary. What is marketing? (cid:523)def(cid:524): (cid:498)the process of 1) creating, 2) pricing, 3) distributing, and 4) promoting goods, services, and ideas to facilitate satisfying exchange . (cid:499) The (cid:886) p"s: 1) product 2) price 3) place 4) promotion. Great marketers: develop 1) products that people want or need, 2) price them at a level that maximizes profits, 3) distribute them to where consumers are. This warrants repeating: there would be no firms without marketing. develop products that fill those needs. Why do so many people buy it: it"s a good product. Product development is a core marketing function. A horse-ridden carriage or a car (that only comes in. The first goal of marketing is to identify unmet consumer needs and then. Ex: iphone, kindle, ipad changed the game because they were new products. Ex: game changer relating to pricing & distribution red box (initially.
