Marketing Notes
Essay by Melina Bast • August 28, 2016 • Course Note • 270 Words (2 Pages) • 1,120 Views
MARKETING SESSION 1
What is marketing?
- There are many different definitions of marketing
- Marketing is different things to different people and different organizations
- Philip Kotler – father of modern marketing
- Marketing is about 5 things
o Company
o Product
o Exchange
o Money
o Customer
- To marketing is “to sell or bring to market” (Oxford English Dictionary, 1455)
- Marketing is a company going to market with a product (John Branch definition)
What is a market?
- Economics Definition
o Where the exchange happens
o A place where buyers and sellers come together
o The nexus of supple and demand
- Marketing Definition
o Customers (people who have the $), industry (people who have the products) and business environment (the arena)
o 5Cs
♣ Company
♣ Customers
♣ Competitions
♣ Collaborators (distribution channel partner)
♣ Context
With what do we go to market?
- A product
- 4ps – The Marketing Mix
o Product
o Price
o Place (distribution channel)
o Promotion (communication)
♣ Advertising (paid media)
♣ PR (public relations – get people/media to talk about you)
♣ Personal Selling
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