U5 Marketing - TACN3 (Kinh tế và kinh doanh quốc tế) FTU

UNIT 5 : MARKETING What is marketing? ◻ According to the social definition, marketing is societal process by which individuals or groups obtain what they need and want through creating, offering, exchanging products and services of value freely with others. ◻ The American Marketing Association offers managerial definition: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. What is marketed? Marketing people are involved in marketing 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Marketing network A marketing network consists of the company and its supporting stakeholders—customers, employees, suppliers, distributors, retailers, ad agencies, university scientists, and others—with whom it has built mutually profitable business relationships. The operating principle is simple: build an effective network of relationships with key stakeholders, and profits will follow. Marketplace ◻ The marketplace is physical, such as a store you shop in;