MKT106 Prelim p1

The activity, institutions, and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners, and society.

A total system of business activity designed to plan, price, promote, and distribute products to the target market to achieve organizational objectives.

Key element of the Four Ps focusing on design, performance, and quality for differentiation from competitors.

Setting a product's price based on production costs, profit margin, market competition, and consumer value perception.

Involves channels to make products accessible to customers, with choices like online (clicks) or traditional stores (bricks).

Marketing communication tools like advertising, public relations, sales promotion, and digital media to communicate product value.

Marketing creates demand leading to trading something of value (money) for desired products or services.

The company or organization producing and offering products or services for sale.

Provide materials and ingredients for product production.

Intermediaries aiding in product distribution and communication.

Companies working together to create products and promotions.

Buyers of goods and services for personal or household use.

Companies purchasing products for business use.

Nonprofit organizations providing services for societal benefit.

Members of the distribution chain like resellers or intermediaries.

Unifying all marketing communication messages and tools to promote a consistent brand message.

Paid nonpersonal communication about an organization, product, service, or idea by an identified sponsor.

Direct communication with target customers to generate responses or transactions.

Interactive media allowing various online activities like information sharing and purchases.

Marketing activities providing extra value or incentives to stimulate immediate sales.

Strategic communication building mutually beneficial relationships between organizations and their publics.

Person-to-person communication to persuade buyers to purchase products or services.

Evolution from pre-modern times to the digital era, impacting communication and marketing strategies.

Founded N.W. Ayer & Son in 1869, introduced the "open contract" in 1875, guaranteeing clients lowest rates with a 15% commission.

Renowned advertising executive at J. Walter Thompson Co., considered the greatest copywriter of her generation.

Revolutionized advertising by advocating for short, memorable copy instead of extended messages.

Known as the father of modern advertising, founded Ogilvy & Mather with the belief that advertising's sole objective is to sell.

Key participants in advertising, can operate in centralized or decentralized systems, or through in-house agencies.

Specializes in planning and executing advertising programs for clients, offering full-service marketing, communications, and promotions.

Involves sender, message, channel, receiver, noise, and feedback, with various elements influencing the effectiveness of communication.