MKT-3010 Lecture Notes - Lecture 1: Baby Boomers, Human Resources, Organizational Culture
20 Dec 2016
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Product creating value: collaboration with suppliers and customers, create offerings that have value, goods, services, and ideas, return policy- l. l. bean has old time lifetime return policy, changed with nintendo in the 90s. Services can"t be returned so they have to be marketed differently. Once you have something you inflate the value but someone who doesn"t have it wouldn"t pay that much (ex. Would want to sell football tickets for , people who don"t have would only pay. Place delivering value: get offerings to the consumer, optimize value supply chain management, need to get right product to the right customer at the right time. An apply store on campus would make more profit than a baby r us. Promotion communicating value: describe offerings, learn from customers. Understanding the marketplace what do the customers needs and want and how can we deliver that to them: market research, segmentation. Personal value equation: value= benefits price.
