BUS 360 Lecture Notes - Lecture 1: Supply Chain, Institute For Operations Research And The Management Sciences

• School: NCSU
• Department: Business Management
• Course: BUS 360
• Professor: Imran Kahn

Document Summary

Marketing - the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Requires product, price, place, and promotion decisions. Can be performed by both individuals and organizations. Marketing requires product, price, place, and promotion decisions. Promotion is communication by a marketer that informs, persuades, and reminds potential buyers about a product/service so as to influence their opinions and elicit a response. Value-based marketing became the focus at the turn of the 21st century. 1950s-1990 = marketing (change to marketing resulted from lots of competition)