MKT 100 Lecture Notes - Lecture 1: Rieti, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hamed Mehrabi

Document Summary

Product, price, distribution, advertising, target market, environment, research, and selling. A set of business practices (physical part ti(cid:373) horto(cid:374)"s (cid:272)offee) designed to plan for and present an organizations products or services in ways that build effective customer relationships (the service aspect) The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The exchange can occur between any two parties. Not simply a buyer and seller exchanging money for a good or service. The fundamental purpose of marketing is to create value for both the firm and customer. Value is in essence what you get for what you give up. Through marketing offers (products, services, experiences, ideas) Not to everyone, but to target customers. Marketing role creating value (product), transacting value (price), delivering value (place), and promoting value (promotion) Product + price +place + promotion = marketing mix.