Professional Documents
Culture Documents
Principles of Marketing
BA170
A.B. Ilano
What is Marketing?
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EXCHANGE
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Exchange…
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• Value
– The consumer’s estimate of a product’s capacity
to satisfy his/her needs
– It is based on overall perception
– Estimates are subjective
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Exchange…
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Communication
Goods/ Services
Industry Market
(A collection of sellers) (A collection of buyers)
Money
Information
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End result