RSM250 - Principles of Marketing

Marketing

Engages customers and creates satisfying customer experiences

product (creating value)

a bundle of attributes (features, functions, benefits, and uses) capable of exchange or use, usually a mix of tangible and intangible forms.

price (transacting value)

the formal ratio that indicates the quantity of money, goods, or services, needed to acquire a given quantity of goods or services.

place/distribution

distribution refers to the act of carrying products to consumers. It is also used to describe the extent of market coverage of a given product

promotion (communicating value)

tactics that encourage short-term purchase, influence trial and quantity of purchase, and are very measurebale in volume, share and profit.