MKT 100 Lecture Notes - Lecture 1: Integrated Marketing Communications, Disposable And Discretionary Income, Target Market

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Designing products and services tailored to the wants and needs of customers. Decisions related to size, quality, features, packaging and warranty. Issues related to packaging, warranty/guarantees, features and branding. Focuses on managing a product, service or company over time, adding new products and services and implementing product development processes, assessing what products or services should be developed, continued, enhanced or stopped. Development and maintenance of customer service processes and procedures. Not only marketing the tangible product, but also the feelings and lifestyle that may accompany it. Transactions involved in choosing the best pricing for consumers: high, skimming, low, penetration, beating the competition. Prices are determined by nature of customer, market, quality of competition, and the companies goals regarding covering the cost and making a profit. Price communicates value to customers is it worth it? . Marketing channels chosen to move the product from the manufacturer to the user: supply chains, factories, tactics and logistics.