BUS 448 Chapter Notes - Chapter 1: Marketing Strategy, Value Proposition, Competitive Advantage

• School: Stony Brook University
• Department: Business Management
• Course: BUS 448
• Professor: Camille Abbruscato

Document Summary

Bus 448 marketing strategy | chapter 1. Challenges & opportunities of mkting in today"s economy. Audience & media fragmentation change in media usage and availability. Changing value propositions consumers look for lower expenses. Goal is to connect org to customers. Value and customer relationships = success factors. Meeting human and social needs: marketing w/ standard of living. Consumer markets and business markets becoming everywhere and not restricted by geography. Marketspace = electronic marketplaces unbound by time/space. Metamarket = cluster of closely related goods and services (gs) centering around specific consumption activity. Metamediary provides single access point where buyers can locate many diff sellers in metamarket. Process of obtaining something of value from someone by offering something in return. Must be >= 2 parties to exchange. Each party has something of value to offer. Each party must be capable of communication and delivery. Each party must be free to accept/reject exchange. Each party believes it is desirable to exchange w/ other.