MKT 201 Chapter Notes - Chapter 1: Retail, Marketing Mix
17 Nov 2016
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Develop a variety of offerings, including goods/services, and ideas to satisfy (cid:272)usto(cid:373)ers" needs. Goods are items that can be physically touched. Services are intangible customer benefits that are produced by people or machines and cannot be separated from the producer. Ideas include thoughts, opinions, or philosophies that can also be marketed: capturing value asking customers to pay you the price. Price is everything a buyer gives up (money, time, energy in exchange for the product: communicating value promotion for a product. Promotion to inform, persuade, and remind potential buyers about a product/service to influence their opinions and elicit a response: exchanging value manage distribution (place) Place, or supply chain management, describes all activities necessary to get the product to the right customer when that customer wants it. Importance of marketing: effectively: marketi(cid:374)g ad(cid:448)ises produ(cid:272)tio(cid:374) a(cid:271)out ho(cid:449) (cid:373)u(cid:272)h of the (cid:272)o(cid:373)pa(cid:374)y"s produ(cid:272)t to (cid:373)ake a(cid:374)d the(cid:374) tells logisti(cid:272)s (cid:449)he(cid:374) to ship it.
