exam 1 review sheet

exam 1 review sheet - Chapter 1 Study Guide Marketing...

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Chapter 1 Study Guide Marketing Stresses- Stresses Customer satisfaction Philosophy A set of activities. .. Attitude Products Perspective Distribution Management Orientation Promotion Pricing 4 P's of Marketing- Products, Promotion, Pricing, Distribution AMA Marketing Definition An organizational function and 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. 4 C's Clear, Constant, Consistent, Creative Exchange- People give up something to receive something else they would rather have. Conditions of Exchange 1. must be 2 parties 2. each party must have something might be of value to other party 3. each party is a 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 other party. Why Exchange May not take place if those conditions are not met. 4 Management Philosophies- Production, Sales, Marketing, Societal PLUS 5 th . Production Orientation - focuses on internal capabilities of the firm rather than on the desires and needs of marketplace. What can we do best? What can our engineers design? Focus on what customers want then produce. Sales Orientation - based on idea that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits . Problem is that you cannot force sales on people. Market Orientation- Market concept- social and economic justification for an organizations existence is the satisfaction of customer wants and needs while meeting organizational objectives. Understanding that Sale does not depend on an aggressive sales force, but on a customers decision to purchase a product. Societal Marketing Orientation - organization exists not only to satisfy customer wants and needs and to meet organizational objectives but to preserve or enhance individuals and society's long term best interests. Marketing Less Toxic containers. Satisfying needs and wants while enhancing individual and societal well being.
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5th-Strategic Societal- enhancing individual and societal well being while positioning strategically against the competition. Companies want to take over as much as they can. Hypercompetitive frame. Marketing Concept
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This note was uploaded on 04/29/2008 for the course MRKT 301 taught by Professor Goldman during the Spring '08 term at UMass (Amherst).

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exam 1 review sheet - Chapter 1 Study Guide Marketing...

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