Mr. Munaco

Lecture #1

 Market:
 Any system or place where parties are engaged in exchange of either goods or services
 Goods or services in exchange of money
 Goods:
 Tangible physical products transferred from seller to buy
 Can be seen and touched

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 Sale of goods directly to consumer
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Broken down in smaller quantities
For end use (no resale)

The creation and maintenance of satisfying exchange relationships

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 $500 Billion spent in advertising every year
 50% of budget spent on marketing activities
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 Advertisements
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Deciding on a purchase (consumer)
Cash or credit
Most visible aspect of business

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 Market Planning
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Product and Service Management
Distribution
Pricing
Promotion
Selling
Marketing-Information Management
Financing
Risk Management

 Example 1: Apple used __________ by combining the technologies used in the iPod, iPhone, and MacBook to produce the iPad.
 Example 2: Redbox redefined the movie rental business through an innovative
______ strategy. They locate their easy-to-use bright red kiosks on convenient neighborhood locations.
 Example 3: The use of electronic scanners at the supermarket checkouts provide information about inventory levels and purchases so managers can make decisions about how much and when to reorder.

Lecture #2

 Manufacturer
 Involved in production of goods with help of machines, labor, and raw materials.
 Wholesaler
 Purchases goods from manufactures and sells to retailers in lower numbers at a lower price
 Retailer
 Sells the products in small quantities to satisfy needs and demands

Manufacturer Wholesaler Retailer Shopping