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Mktg Mng

TO STUDY: http://www.cram.com/flashcards/test/principles-of-marketing-chapters-1234-1904534

http://www.cram.com/flashcards/test/marketing-quiz-1-chap1-2-269306

http://quizlet.com/4329647/kotlerarmstrong-principles-of-marketing-chapter-1-vocabulary-flash-cards/

City marketing: Position the product, city, country, etc. and differentiate it from the competition.

Many consumers don’t understand the info written on the product.

Companies have to abide the rules imposed by the gov. agencies in relation to the nutritional facts, but people don’t always have the tools to understand them.

Chapter 1

Marketing: * Creating values for costumers.

* Customers relationships can be: * Attracting new customers (potential) * Retaining and growing current customers (actual)
We need one mktg strategy for the actual and aother one for the potential customers.

* Studying needs: a need is smth that you can’t live without. * A need is shaped by your culture and your personality.

* Demand is a need backed by the purchaser power.

* Product is a tangible good. If it were not tangible then it would not be a thing. * Service is intangible.

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If you download music and you pay for the service, you pay to listen it. Then every time you do it you have to pay for it. A product is something you download once, you pay for it once and then that’s a product. E-books are e-products because you consume them; you buy them once and after you always have it.

Benefits | Costs | - Prod./Serv. | - $ | - Prestige | - Hours/Time | - Function | - Effort | Value: the value on a product depends on circumstances, depends on the object. Eg: there’s an exam and a student does not have a pen to write so he will pay more for a pen than a student that has one. Why? Because if he can’t