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Chapter 12

Chapter 12 - Chapter 12 Customer-Driven Marketing...

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Chapter 12 Customer-Driven Marketing Objectives a. Define marketing and describe the exchange process. b. Specify the functions of marketing. c. Explain the marketing concept and its implications for developing marketing strategies. d. Examine the development of a marketing strategy, including market segmentation and marketing mix. e. Investigate how marketers conduct marketing research and study buying behavior. f. Summarize the environmental forces that influence marketing decisions. g. g. Assess a company’s marketing plans and propose a solution for resolving its problems. Nature of Marketing o To create value by allowing people and organizations to obtain what they need and want The Exchange Relationship o Exchange: 0. The act of giving up something (money, credit, labor, goods) in return for something else (goods, services, or ideas) The Exchange Process: Giving Up One Thing in Return for Another Marketing Creates Utility o Utility--a product’s ability to satisfy human needs and wants 0. Place 1. Time 2. Ownership 3. Form Functions of Marketing o Buying o Selling o Transporting o Storing o Grading o Financing o Marketing research o Risk taking 1
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The Marketing Concept o The idea that an organization should try to satisfy customer’s needs through coordinated activities that allow it to achieve its own goals (profit) Evolution of the Marketing Concept o The production orientation 4. During the second half of the 19th century
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Chapter 12 - Chapter 12 Customer-Driven Marketing...

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