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A Brief Introduction to Marketing http://www.youtube.com/watch#playnext=1& playnext_from=TL&videos=25phPiucqpQ&v=t ao76O4F4XI http://www.youtube.com/watch#playnext=1& playnext_from=TL&videos=25phPiucqpQ&v=t ao76O4F4XI 6/3/20151
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Marketing American Marketing Association – Activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 6/3/20152
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MARKETING Marketing is meeting or creating a need for a product/service, which results in the product/service being purchased, and if done well purchased over and over. 6/3/20153
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Goals and Tools Sales is the goal of marketing. Sales is where the exchange of product/service for money takes place. The tools to accomplish this goal changed dramatically with the advent of the Internet, e-Commerce, etc. 6/3/20154
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Marketing Concept Marketing is more than promotion and advertising. It is strategically planning to anticipate and fulfill customer needs and wants. 6/3/20155
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4 P’s of Marketing Get Product to Customer Traditional Viral Sales Monetary Time Energy, etc. Goods/Services for Sale ProductPrice PlacementPromotion 6/3/20156
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Branding v. Marketing Branding - Labeling a product/service with a distinctive word or logo that gives an impression of value and leads to the customer needing/wanting the product/service. WHICH IS A BETTER PRODUCT? 6/3/20157
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Cola is Cola 6/3/20158
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NO DIFFERENCE HERE 6/3/20159
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CERTAINLY NO DIFFERENCE HERE 6/3/201510
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Branding Branding associates a name and becomes part of the product/service Marketing encompasses branding 6/3/201511
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Segmentation and Targeting 6/3/201512
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THE BUZZ VIRAL MARKETING – A New Concept? 6/3/201513
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What is Viral Marketing? http://www.youtube.co m/watch?v=V0oNNt7d1 gY&feature=related http://www.youtube.co m/watch?v=V0oNNt7d1 gY&feature=related Like the Flu 6/3/201514
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Viral Marketing Defined Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message's exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions. 6/3/201515
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Off the Internet, viral marketing has been referred to as "word-of-mouth," "creating a buzz," "leveraging the media," "network marketing.” http://www.wilsonweb.com/wmt5/viral- principles.htm http://www.wilsonweb.com/wmt5/viral- principles.htm 6/3/201516
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Viruses Piggyback on others and use their resources to increase their reach. Grow exponentially by replicating, again and again with geometrically increasing power, doubling with each iteration: 1 11 1111 11111111 1111111111111111 11111111111111111111111111111111 111111111111111111111111111111111111111111111111111111 In a few short generations, a virus population can explode into an epidemic all over the world. 6/3/201517
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Viral Communities Solidarity We-Focus Taste-Maker We-Focus Appreciator I-Focus Maven I-Focus Viral 6/3/201518
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Solidarity Sharing Experiences with a product and brands with social values – Organic Foods network 6/3/201519
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Taste-maker Networking by self-promotion in the name of being the first or the coolest – Oprah Winfrey – These people are a sales force. 6/3/201520
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Appreciator Networking by emulation or imitation of others or the brand personality – Martha Stewart 6/3/201521
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Maven Networking by educating and broadening horizons – Not a professional, but an enthusiast wanting to educate others – Review products and have extensive knowledge of a certain product category – Amazon 6/3/201522
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Is a Marketing Budget Important? What does it include? – People – Marketers/Strategist – Time – How much will it take 6/3/201523
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