MUSI 3338 Lecture Notes - Lecture 36: History Of Marketing, Marketing Mix, Product Differentiation
9 May 2018
School
Department
Course
Professor
Products - Music Videos (vevo)
Price - ad revenue, service fee to get their name on it,
Promotions - artist promo, social media, vevo as a brand
Place - youtube, online
The New Marketing Mix:
Creating - The process of collaborating with suppliers and customers to create offerings that
have value.
Communicating - the process of describing offerings, as well as learning from customers.
Delivering - the process of providing access to offerings in a way that optimizes value.
Exchanging - trading value for those offerings.
VALUE = benefits received – [price + hassle]
What is the value generated by music?
Music is very important to me. Music expresses the soul and allows people to share
their deepest thoughts and emotions through a power larger than just mere words.
Customer Value
● Personal value equation
○ VALUE = benefits received – [price + hassle]
● Value is subjective
● Marketers seek to understand and satisfy customers wants and needs.
Former marketing orientations
● Selling orientation: emphasizes heavy advertising
● Product orientation: emphasizes product differentiation and innovation
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Price - ad revenue, service fee to get their name on it, Promotions - artist promo, social media, vevo as a brand. Creating - the process of collaborating with suppliers and customers to create offerings that have value. Communicating - the process of describing offerings, as well as learning from customers. Delivering - the process of providing access to offerings in a way that optimizes value. Value = benefits received [price + hassle] What is the value generated by music? their deepest thoughts and emotions through a power larger than just mere words. Music expresses the soul and allows people to share. Marketers seek to understand and satisfy customers wants and needs.
