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Omega

In: Other Topics

Submitted By vivalaskye
Words 2485
Pages 10
Chapter 1
Marketing used by consumers to make purchase descions
Mobile and internet market newest and most expensive methods
American Marketing Association (AMA): represents marketing professionals in US & Canada * Marketing (2007)- activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offering that have the value for customers, clients, partners, and society at large
Exchange: central concept of marketing, basic use of marketing activities to create relationships with customers. 2 or more parties with something of value ot exchange, way to communicate w. eo * Not all marketing transactions involve exchange of money. Nonprofits use ads to bring in more donations
Value: how customer views benefits of a product or service weighed against the cost of buying and cosuming it * Benefits can be functional, experiential, &/or psychological
Marketing mix- Product, Place, Price, Promotion
Integrated Marketing Communication (IMC)- coordinating various promotional elements and other marketing activities that communicate w/ the firms customers.
Marketing Revolution: * Shifting of marketing expendistures from traditional media advertsing to other forms of promotion, and nontraditional media * Rapid growth of the internet and social media that’s changing the nature of how companies do business and the ways they communicate and interact with customers * Shift in marketplace power from manufacturers to retailers * Growth and development of database marketing * Demand for greater accountability from advertising agencies and changes in the way agencies and marketing communication firms are paid
Brand identity: combination of logo, symbols, design, packaging, and performance of a product or service as well as the image or association that comes to consumers mind when they think about the...

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