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MKT 300 Exam 1 - STUDY NOTES FOR EXAMS
Marketing and Business Performance (Arizona State University)
Studocu is not sponsored or endorsed by any college or university
Downloaded by Lizy Steven ()
, lOMoARcPSD|23478024
MKT 300 Exam 1
Study Guide
Modules 1-3
Module 1:
Marketing: Marketing: Marketing is an organizational function and a collection of
processes designed to plan for, create, communicate, and deliver value to customers
and to build effective customer relationships in ways that benefit the organization and
it stakeholders
o Marketing Mix definitions: set of marketing functions
1) product: developing products
2) price: setting prices low prices may suggest value
3) promotion: stimulating demand through promotional activities
4) place (distribution): could be a retail outlet where it is sold
communicates something about the item ex clothing item being sold at
walmart or at an outlet store prices will differ.
Concept of Exchange: Exchange means we are willing to give up something of value
o Necessary conditions for exchange
At least two parties
something of value
communicating and delivery
freedom to accept of reject
desire to deal with other party
Demographics vs. Psychographics
o Demographics: Demographics are necessary but not always sufficient to make
connections, it is something used to group people together like a g.p.a.
o Psychographics are the differences between the different groups of people for
example, Ferraris are purchased by rich people but not all rich people will buy a
Ferrari because some of them buy more conservative cars.
Marketing Concept
Downloaded by Lizy Steven ()
MKT 300 Exam 1 - STUDY NOTES FOR EXAMS
Marketing and Business Performance (Arizona State University)
Studocu is not sponsored or endorsed by any college or university
Downloaded by Lizy Steven ()
, lOMoARcPSD|23478024
MKT 300 Exam 1
Study Guide
Modules 1-3
Module 1:
Marketing: Marketing: Marketing is an organizational function and a collection of
processes designed to plan for, create, communicate, and deliver value to customers
and to build effective customer relationships in ways that benefit the organization and
it stakeholders
o Marketing Mix definitions: set of marketing functions
1) product: developing products
2) price: setting prices low prices may suggest value
3) promotion: stimulating demand through promotional activities
4) place (distribution): could be a retail outlet where it is sold
communicates something about the item ex clothing item being sold at
walmart or at an outlet store prices will differ.
Concept of Exchange: Exchange means we are willing to give up something of value
o Necessary conditions for exchange
At least two parties
something of value
communicating and delivery
freedom to accept of reject
desire to deal with other party
Demographics vs. Psychographics
o Demographics: Demographics are necessary but not always sufficient to make
connections, it is something used to group people together like a g.p.a.
o Psychographics are the differences between the different groups of people for
example, Ferraris are purchased by rich people but not all rich people will buy a
Ferrari because some of them buy more conservative cars.
Marketing Concept
Downloaded by Lizy Steven ()
