Quiz 1 Flashcards
process of planning and executing the
conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objective
Marketing
management process which is responsible for identifying, anticipating and satisfying customer requirements
profitably
Marketing
essentially about providing changing
benefits to the changing needs and demands of the customer
Marketing
THE FOUR P’S
•Price
•Product
•Placement
•Promotion
ADDITIONAL THREE P’S
•People
•Physical Evidence
•Process
These are the employees, customers or those who are directly or indirectly involved in consuming or producing
the goods or services.
People
This can be the facility design, equipment or signage.
Physical Evidence
This is the flow of activities or steps and
level of customer’s involvement
Process
paid form of non-personal presentation and promotion
Advertising
Purpose of advertising
1.To promote ideas about goods and services.
2. To create interest in goods and services.
3. To create awareness about goods and services.
4.To create sale.
Roles of advertising
- Marketing Role
- Economic Role
- Communication Role
- Societal Role
Function of advertising
01 - SOCIAL FUNCTION – (NON-
COMMERCIAL ADVERTISING)
02 - PSYCHOLOGICAL FUNCTION
03 - ECONOMIC FUNCTION
not to sell a product or service but to raise awareness
Social function
focuses on building empathy towards a product or service to help you become more inclined to buy or use it.
Psychological function
Companies spend money on advertising because it increases sales of existing products
Economic function
