Mar 3023 Lecture Notes - Lecture 1: Root Mean Square, Marketing, Marketing Mix

• School: University of Florida
• Department: Marketing
• Course: Mar 3023
• Professor: Dr. Allen Cooke

Document Summary

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging o erings that have value for customers, clients, partners, and society at large. Marketing is the art of creating genuine customer value. It is the art of helping your customer become better o : customer value= bene ts/cost. Customer value: the unique combination of bene ts received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service, value, satisfaction, utility. Retailers and their locations (don"t have to go to the manufacturer), delivered food: possession. A credit line, buy now pay later: form. Marketing creates customer value through the process of exchange. Marketing program: a plan that integrates the marketing mix to provide a product, service, or idea to prospective customers. Market share: ratio of the rm"s sales revenues to total industry sales revenues (including the.