MKTG 1001 Study Guide - Midterm Guide: Social Class, Candy Cane, Belongingness
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Satisfying the needs/wants of the customer while meeting corporate goals. Product- goods or services or anything of value. Which is offered to the market for exchange. Price- amount of money customers have ti pay to obtain the product. Place- physi(cid:272)al distri(cid:271)utio(cid:374) i(cid:374)(cid:272)lude a(cid:272)ti(cid:448)ities that (cid:373)ake fir(cid:373)"s produ(cid:272)t a(cid:448)aila(cid:271)le to the target customers. Promotion- include activities that communicate availability, features, merits, etc. of the product to the target costumes and persuade them into buying. Marketing orientation[text wrapping break] production- consumes will favor products that are available and highly affordable. Therefore, management should focus on improving production and distribution efficiency. Break] product(marketing myopia)- consumers will favor products that offer the most in quality, performance, and innovative features. [text wrapping break] sales- (cid:272)ostu(cid:373)ers (cid:449)ill (cid:374)ot (cid:271)u(cid:455) e(cid:374)ough of the fir(cid:373)"s u(cid:374)less it u(cid:374)dertakes a large-scale selling and promotion effort. Usually practice with unsought goods-those that buyers do not normally think of buying, such as insurance or blood donations.
