MKTG 3650 3rd Edition Lecture 3 Outline of Last Lecture I. What is Marketing?II. ExchangesIII. Marketing Concept Outline of Current Lecture IV. BrandsA. InnovationV. DifferentiationVI. ChangeVII. Golden and Platinum RuleCurrent LectureBrandsA sign or a symbol, a word or words, that distinguish one product from another.- Innovation (NEW and USEFUL, provides solutions)- Creativity is the key to successful innovation.DifferentiationIt is important!- Different from and better than (alternative solutions).- Most of what any marketer does relates, directly or indirectly to the pursuit, growth, or retention of differentiation.ChangeKnowledge is the fundamental source of competitive advantage.- Change is inevitable - Change will be resistedThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Change does not always represent progress, but change is always necessary for progress to occur.o Success in Marketing The first thing to say when meeting someone is ‘thanks for making time for me.’ The second thing you do is ask them about themselves. Third, make them laugh. These aren’t tricks, the only trick is understanding there are no tricks or shortcuts to marketing success. Create in the mind of customers, as emotional bond, between the consumer and a brand.Golden and Platinum RuleGolden Rule “Do unto to others as you would have them do unto you.”Platinum Rule “Do unto others as they would have you do unto
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