MKW 1120 Tutorial 3

Wants backed by buying power and willingness to buy

• Value

• Wants

• Demand

• Needs

Difference between benefits (product, service, personnel, image) vs costs (monetary, time, energy, psychic)

• Value

• Exchange

• Demand

• Needs

Human needs that are shaped by culture and individual personality

• Wants

• Dreams

• Demand

• Needs

A combination of products, services, information, and experiences offered to a market

• Wants

• Exchange

• Demand

• Market Offerings

Set of all actual and potential buyers

• Wants

• Market

• Needs

• Dreams

In marketing, we try to build win-win, long-term...

• Exchange

• Relationships

• Demand

• Needs

The act of obtaining and offering

• Relationships

• Demand

• Exchange

• Needs

States of felt deprivation

• Exchange

• Relationships

• Demand

• Needs

There are ..... steps in the marketing process

• 6
• 5

• 8

• 7

First step in the marketing process

• Crafting the Marketing Mix

• Building Customer Equity

• Choosing a Value Proposition

• Discover Consumer Needs