BU2108 Lecture Notes - Lecture 1: Consumer Futures, Marketing Mix, Triple Bottom Line
Document Summary
Services marketing: physical evidence, partipants (people), process. Real people real choices marketing version 3 - diff chapter every week / ebook. Mymarketinglab - study activities / similar to quizzes. Underlined is important keys for exams (on learning outcomes) Marketers are: consumer goods, services, ideals, people, places, business to business, government (local/state/federal, not-for-profit organisations. Marketers must: work with all divisions of a firm, operations, logisitics, human resource management, finance & accounts, information technology, management, research & development etec. Consumer needs and wants: consumer is the ultimate user of goods, services, idea etc, marketing concept : identifying and satisfying consumer needs, ensuring long term profitability. Benefits create demand: product delivers benefits when needs and wants are satisfied challenge is to identify the benefits desired by consumers that are important, couple desire with buying power (resources) to satisfy a want, the results is demand. Marketing creates utility: marketing activities play a role in creating utility, utility is what creates value for consumers.
