Ch. 1 MAR3023

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MAR 3023
May 2, 2023
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Textbook Notes Chapter One: Overview of Marketing Sami Huda Definition of Marketing Satisfying customers' needs and wants. Entails an exchange. Creates value through the 4 P's. o Product: creating value Goods Services Ideas o Price: capturing value o Place: delivering value Supply chain management/marketing channel management o Promotion: communicating value Can be performed by individuals and organizations. o B2C o B2B o C2C o Individuals Affects various stakeholders. Marketing Evolution Production-oriented era (early 1900's) Sales-oriented era (1920-50) Market-oriented era (post ww2) Value-based marketing (today) o Value o Value cocreation o Relational orientation o Customer relationship management How do they do it? Adding value Marketing analytics Social and mobile marketing Ethical and social dilemmas MAR 3023 Fall 2021
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