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Week 1: Intro To Marketing (Alternative Marketing Philosophies (Production…
Week 1: Intro To Marketing
Marketing
Human Activity
Satisfying needs and wants
Through exchange processes
Process for creating
Communication
Delivering
Exchanging offerings
Alternative Marketing Philosophies
Production
Manufacturing efficency
Product
Product design
Selling
Persuading buyers
Marketing
customer
Societal marketing
Impact of stakeholders
Marketing philosophy (Concept)
Achieving goals
Depends on determining needs and wants of target markets
Delivering desired satisfactions
Better than competitors
Integration of all marketing functions
producing long-range corporate profits
Customer Value
Functional Value
Correct attributes
Appropriate performances
Appropriate Outcomes
Experimental Value
Sensory
Emotional
Social/Relational
Epistemic
Symbolic Value
Self identity
Personal meaning
Social meaning
Self expression
Cost Value
Economic cost
Psychological cost
Personal investment
Risk