BSB126 Study Guide - Competitor Analysis, Pricing Strategies, Global Marketing

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20 Jan 2017

Document Summary

Marketing has evolved through 5 stages (orientations or philosophy) Assumes consumers will buy if: product availability, low price. Assumes consumers favor products that offer the most quality for the price, but the risk is too much focus on product and not on customer. Customers like high quality products and are willing pay more for a product. Egs, railways, mgm, better technology (vhs & apple), internal focus v. customer need: traps. Selling orientation producing a product and then trying to persuade the customer to purchase it in effect, trying to alter consumer demand. Firm objective is to sell what they can make rather than make new things that can sell to the consumer. There will always, one can assumer, be need for some selling. But the aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.

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