ENTREP REVIEWER LESSON 3

What is MARKETING?

• It begins with the moment the

  entrepreneur or businessman

  creates or develop a product

  or service, to the actual

  production, to the methods

  and ways of selling it.

• creating and developing

  products provide benefits to the

  marketplace. This process begins with

  market research, product designing,

  product testing etc.

• use of techniques in

  conveying messages about the company’s

  product or services with the intending of

  persuading the customers to purchase.

• center of everything marketing

  does. Marketers provides goods, service,

  ideas and benefits that customers really

  want.

6 IMPORTANT PROCESSES

• COSTUMER VALUE, COSTUMER SATISFACTION, EXCHANGE, TRANSACTION, MARKET, PRICE

• CREATING, COMMUNICATING, DELIVERING, VALUE, COSTUMER/CLIENT PARTNERS AND SOCIETY AT LARGE, EXCHANGING

• CREATING, COMMUNICATING, NEEDS, WANTS, DEMAND, SERVICE

• NAME OF PRODUCT, TAGLINE, LOCATION, PRICE, TARGET COSTUMER, OTHER INFO.

KEYWORD FOR: CREATING

• DEVELOP/DEVELOPING

• DISTRIBUTION

• CENTER OF EVERYTHING

• STAKESHOLDER

KEYWORD FOR: COMMUNICATING

• CENTER OF EVERYTHING

• DISTRIBUTE/DISTRIBUTION

• MEET UP TO COSTUMER

• TECHNIQUE

KEYWORD FOR: DELIVERING

• DEVELOP

• SERVICE PRODUCT

• DISTRIBUTION/DISTRIBUTE

• CASH ON DELIVERY

KEYWORD FOR: VALUE

• SERVICE PRODUCT

• DISTRIBUTION

• CENTER OF EVERYTHING

• DEVELOP

KEYWORD FOR: Customer ,Partners, and Society at

Large

• develop

• center of everything

• earn profit

• stakeholders

KEYWORD FOR: Exchanging

• WILLINGNESS TO BUY

• SERVICE PRODUCT

• DISTRUBUTION

• DELIVERING

WHAT IS NEEDS?

• refers to the benefit

  customers place on the product or

  services.

• form that a human need takes as

  shaped by culture or individual personality.

• Human wants backed up by

  purchasing power and willingness to buy.

• a state of felt deprivation about

  something that is necessary.

What is the definition of WANTS?

• measurement

  of how well customer expectations from

  a purchased product or service have

  been met.

• a state of felt deprivation about

  something that is necessary. Example: “I’m hungry”

• form that a human need takes as

  shaped by culture or individual personality.

• activities or benefits offered for sale

  that are essentially intangible.