Chp11_man101_marketing

Chp11_man101_marketing - Marketing Creates Revenue...

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5/7/09 11 Marketing The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations. 1 Marketing Creates Revenue
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5/7/09 22 Marketing—the “Right” Principle 1 Getting the right goods or services to the right people at the right place, time, and price using the right promotion techniques
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5/7/09 33 The Marketing Concept 1 Focusing on customer wants so the organization can distinguish its products from competitors’ offerings. Integrating all of the organization’s activities to satisfy these wants. Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly.
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5/7/09 44 1 Customer Value Customer Satisfaction The customer’s feeling that a product has met or exceeded expectations. Customer Value The ratio of benefits to the sacrifice necessary to obtain those benefits, as determined by the customer. Relationship Marketing A strategy that focuses on forging long-term partnerships with customers by offering value and providing customer satisfaction.
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5/7/09 55 2 1. Understanding the external environment 2. Defining the target market 3. Creating a competitive advantage 4. Developing a marketing mix Creating a Marketing Strategy
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Chp11_man101_marketing - Marketing Creates Revenue...

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