It stinks that I don't have more time to blog because I do enjoy it.. I also wish I was better at multi tasking. I am watching the new premiere of "Lone Star" but am not paying enough attention! There needs to be more time in a day.. with school and work there is just not enough time for me! I have a marketing quiz tomorrow.. I want to type out what I am studied to see how much I go. This may not be interesting to you but it will help me out to see it typed out!
Marketing Quiz 1:
Marketing: Social and managerial process in which individuals get what they want and need by creating and exchanging products with groups.
Exchange concept: Getting something by voluntarily giving something back.
Historical Background: Has to do with philosophies. Each philosophy is from a different era.
Philosophies: Product- Innovation and creating new ideas. Production- Production of new methods. Sales- Convincing customers of something they may need. Marketing- Satisfying the customers. Financial- Cost control.
Marketing Mix- Price- What will be paid. Place- Where it's available. Product- What customer needs. Promotion- Making conversation with customers.
How to optimize marketing mix- (Make effective)- 1. Competitive Advantage- Creating value to customers. 2. Integration of mix- Make sure mix is well integrated. Desired competitive advantage. Customer Expectations- Target one group and involve mix. Make value and make sure it's better then it's competitors.
How is customer value and satisfaction created? Customer value= perceived benefits- perceived sacrifice. Perceived Benefits= product Perceived Sacrifice= cost
3 A's- Affordability- Is it in the right place? Acceptability- Is it the right product?Availability- Is it a convenient time and place?
Reading this probably make you yawn! Sorry but it helped me study! Wish me luck on the quiz. How was your weekend? Was your Monday horrible?! Hopefully not. I had two servings of pumpkin spice coffee! I was extra tired...blah. Hopefully tomorrow I wont be. Have a good night everyone. :)
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