The Concept of Marketing
At the end of this class you should be able to:
Explain the following related concepts: markets, value added and exchange transactions
Describe the elements of the marketing mix
Key Marketing terms
Marketing :Identifying, anticipating and meeting customer needs and wants in a mutually beneficial process.
Value: the combination of benefits a product provides in relation to its price.
Market a medium that facilitates the interaction of buyers and sellers who engage in exchange.
Value added - the enhancement made to a product or service before offering it for sale.
Marketing Mix - the combination of factors that influence a customer's decision to buy a good or service
The market in a nutshell. Link
The 4Ps of marketing. Link
The extended marketing mix - the 7Ps. Link