Mar-3023 Study Guide - Midterm Guide: Swot Analysis, Price Gouging, Monopolistic Competition
Document Summary
The aim of marketing is to know and understand customers so well the product or. Advertising and sales when done correctly you don"t need either. What is marketing? service fits them and sells itself peter drucker. Marketing is the answer to the question of why you buy a product . If you nail positioning and targeting the rest fails into place . Marketing controls the products that firms sell (w/out products no firms) If you aim your product at the right group of customers and they fulfill their need. The right price is not always a low price. Maximizes profits for a firm (makes the firms run) Place marketers make the product easily available. Price - identify the price that maximizes revenue is the part of marketing. Good products the first goal of marketing is to identify unmet customer needs and then develop products that fill those needs. Identify the price that maximizes revenue is the part of marketing.
