1. CHAPTER 1 INTRODUCTION & CHANGE

2. OVERVIEW OF THE COURSE No textbook in this course Not on Blackboard not WebCT Class notes available in packet Wall Street Journal available at 75% off business rate Buy 4 blue scantrons

3. MARKETING DEFINITIONS Marketing Markets Marketing Mix

4. MARKETING Negotiated exchange between buyers and sellers that satisfies wants and needs for both parties

5. NEGOTIATED EXCHANGE Original Seller Intermediates Final Buyer

6. MARKETS Groups of buyers with the ability to buy and the willingness to buy

7. MARKETING MIX Product/Service Pricing Distribution Promotion Controllable marketing decision areas

8. ENVIRONMENTAL CHANGES Uncontrollable forces that influence strategy in terms of opportunity and threats

9. MAJOR ENVIRONMENTAL AREAS Demographic Economic Political Cultural Technology Disaster

10. MAJOR DEMOGRAPHIC AREAS 2010 Census Changes Baby Boomers Generation X Generation Y Generation Z

11. MAJOR ECONOMIC AREAS Adam Smith – role of competition Joseph Schumpeter – creative destruction

12. CREATIVE DESTRUCTION (Schumpeter) Social Media Retail selling Health care appointments

13. HOSPITAL PRICING City Hospital Hospital Cost Procedure #1 #2 Dallas Lower joint $162,000 $43,000 replacement New Jersey Respiratory Ailment $100,000 $7,000 Alabama Pneumonia $150,000 $14,000

14. MAJOR POLITICAL AREAS City/County State Federal International

15. MAJOR CULTURAL AREAS Hispanic Vietnamese African American Gay

16. TECHNOLOGY AREAS Nanotechnology Cloud Computing Energy Technology Internet Technology

17. CLOUD SERVICES Salesforce.com Rackspace Dropbox

18. CLOUD COMPUTING REVENUE 2009 16 Billion 2015 (est) 73 Billion

19. INTERNET TECHNOLOGY Social Media Smart Phones Internet Services

20. MAJOR DISASTER AREAS Hurricanes Nuclear Floods Shipwrecks