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Marketing Notes

Essay by   •  August 28, 2016  •  Course Note  •  270 Words (2 Pages)  •  508 Views

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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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