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96 Pages • Complete Study Notes • Year: Pre-2021
LECTURE 1 The Marketing Evolution Over the past 100 years marketing has evolved through the following stages: • Trade • Production orientation • Sales orientation • Market orientation • Societal market orientation What is Marketing? Marketing is the activity and process for creating, communication, delivering and exchanging offerings that have value for customers, clients, partners and society at large • Systems of business activities designed to plan, research, promote & distribute products, service & ideas to present & potential customers in a dynamic environment • Essence of marketing – finding out what customers want; to satisfy customer needs. Develop a mutual beneficial exchange of value. Marketers must realise that value perceptions will continually change and evolve over time and must adapt to this. Total system of interacting activities designed to plan, price, promote & distribute products to present to potential customers. • Marketers need to learn what customers, clients, partners and society want • Marketers use information, develop new ideas and offer something unique/special • Ongoing process
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