MKT 100 Study Guide - Midterm Guide: American Eagle Outfitters, Customer Satisfaction, Competitive Intelligence
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MKT 100 Full Course Notes
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Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing is about an exchange (the trade of things of value between buyers and seller). Market: is a group of people (cid:449)ho (cid:374)eed or (cid:449)a(cid:374)t a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s produ(cid:272)ts or ser(cid:448)i(cid:272)es. Target market: the group to whom the firm is interesting in selling the product too. Persons (like brand and singers), services (like doctors), goods ( like tvs and ipod) and places. Ideas (like drinking and driving or getting a flu shot) We do(cid:374)"t see (cid:271)ut it happe(cid:374)s a lot(cid:895) Core marketing concepts: needs, wants and demands. Demand is need and wants plus money: target markets, positioning and segmentation. Is a certain type of market like toys for kids. Segmentation is branching off of different aspects of the target market.
