MARK 3000 REVIEW SHEET EXAM1

MARK 3000 REVIEW SHEET EXAM1 - Marketing: An organizational...

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Marketing : An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The 4 Ps: Product, price, place, promotion . Conditions of Exchange : 1. There must be at least two parties. 2. Each party has something that might be of value to the other party. 3. Each party is capable of communication and delivery. 4. Each party is free to accept or reject the exchange offer. 5. Each party believes it is appropriate or desirable to deal with the other party. Marketing Orientation : Purpose of the organization is to satisfy consumer wants and needs while meeting organizational objectives. What does the customer want? Production orientation : Focuses on the internal capabilities of the firm. What does the firm do best? Sales orientation : Focuses on aggressive sales techniques and high sales result in high profit. How can we sell more of what we have? Societal marketing orientation : Focus is on enhancing benefits to society. An organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals’ and society’s long- term best interests. How can I meet consumer needs and benefit society? Customer value is the relationship between benefits and the sacrifice necessary to obtain
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This note was uploaded on 04/18/2008 for the course MARK 3000 taught by Professor Emmelhainz during the Spring '07 term at University of Georgia Athens.

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MARK 3000 REVIEW SHEET EXAM1 - Marketing: An organizational...

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