MARK Exam 1
Last Modified: 2011-09-13
Related Textbooks:MKTG 2.0, 2008 - 2009 Student Edition (with Review Card and Printed Access Card)
and satisfying those needs by using the 4 P’s
to create an immediate exchange of value
and a long term relationship.
– Price – value to be exchanged
– Promotion – how communicated
– Place – where available
Selling what you can make
- can be effective internal control on behavior (more desirable than external controls like government regulation). helps employees make better decisions.
Political and Legal
• Focus on value
• Recovery – rising income/employment/production
• Focus – on buy now for better times on the way
• Prosperity – high income/employment/ production
• Focus on convenience/reward
• Depression – low income/employment/production
• Focus on basic needs
Risk is present
Consumers see substantial differences
Internal information search
External information search
Results in Evoked Set
“Was my choice wise?”
Ways it is reduced by buyer
Ways it is reduced by seller
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