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Marketing Author: Andreas H

Marketing Everything is from "Marketing Management", 2012, 2nd edn., by Kotler et al . unless it's stated otherwise Perspectives Service dominant logic Acknowledges the importance of the customer experience of exchange Product dominant logic Subtopic Subtopic Value co-creation Focus on value-in-use and in-context and suggests that service syystems w/i companies should access, adapt and integrate resources to create value w/ their customers Experiental marketing Social marketing Place marketing Event marketing Marketable entities Services Airlines, hostels, hairdressers, maintenance, accountants, etc. Products Tangible items Events Concerts, festivals, conferences, etc. Experiences Theme/Amusement parks, sport camps, retreats, etc.

People Celebrities, idols, gurus, CEOs, etc. Places Cities, regions, nations (tourism), etc. Ideas Campaigns Core concepts Needs Stated needs Ambigious need "The customer wants an inexpensive car" Real needs Expressed need "The customer wants price, is low" Unstated needs Expected need "The customer expects good service from the dealer" Delight needs Wished need "The customer would like the dealer to include an onboard GPS" Secret needs Beneficial need "The customer wants friends to see them as a savvy customer" Wants Are shaped by our society Needs become wants when they are directed to specific objects that mi ght satisfy the need Demands are wants for specific offerings backed by a ability to pay Demands Full demand a car whose operating cost, not initial

Consumers buy all market offerings brought to the market Overfull demand More consumers demanding the offering than can be satisfied Irregular demand Temporal purchases (seasonally, monthly, weekly, etc.) Declining demand Consumers buy less frequently or not at all Negative demand Consumers dislike the offering and may even pay to avoid it Non-exsistent demand Consumers unaware of/uninterest in the offering Latent demand Strong need that cannot be satisfied by an existing offering Unwholesome demand Consumers attracted to offerings that have undesirable social consequences "Marketers must identify the underlying causes of the demand state and determ ine a plan of action to shift the demand to a more desirable state." (p. 13) Demand = Willingness to purchase + Ability to purchase