BU352 Lecture Notes - Lecture 1: Marketing Mix, Swot Analysis, Operational Excellence
Document Summary
Marketing is a set of business practices designed to plan for an present an organization"s products or services in ways that build. Core aspects of marketing: helps create value, occurs in many settings, about satisfying customer needs and wants, can be performed by both individuals and organizations, requires product, price, place, and promotion decisions, entails an exchange. Value: value is what you get for what you give up, the fundamental purpose of marketing is to create value for both the firm and customer, ex. Eras of marketing (orientations) (mc: product-oriented era 1920, sales-oriented era 1950, market-oriented era 1990, value-based marketing era now. Coca cola has a good brand: barriers to entry is a big thing to consider, you can prevent your competitors from taking things from you if you are a big company. Macro strategies for developing customer value: customer excellence, ex.