MKT 100 Chapter Notes - Chapter 1: History Of Marketing, Customer Relationship Management, The Oprah Winfrey Show

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

You get the songs, and the exchange partners get money and information about you. For example, water: goods are items that you can physically touch roots clothing, molson. For example, speed, convenience, size, accuracy, price, cost-savings, or user-friendliness. How firms compete on the basis of value: consumer perceptions change quickly, competitors constantly enter markets, and global pressures continually reshape opportunities. Thus, marketers must keep a vigilant eye on the marketplace so they can adjust their offerings to meet customer needs and keep ahead of their competition. Second, they strive to balance their customers" benefits and costs. It identifies those elements that local customers value and makes it possible for the firm to expand globally: without marketing, it would be difficult for any of us to learn about new products and services. In value-based marketing firms, the marketing department works seamlessly with other functional areas of the company to design, promote, price, and distribute products.