Note 1 - Chapter 1 What is marketing 1 Marketing Delivering...

This preview shows page 1 - 3 out of 19 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Issues and Ethics in the Helping Professions
The document you are viewing contains questions related to this textbook.
Chapter 2 / Exercise 03
Issues and Ethics in the Helping Professions
Corey/Corey
Expert Verified
Chapter 1 What is marketing? 1. Marketing: Delivering benefits to the Organization, its Stakeholders, and Society 1. Marketing: the activity for creating and delivering, exchange offerings that benefit its customers, the organization, its stakeholders, and society at large. 2. In order to serve both buyers and sellers, marketing seeks 1) Discover the needs and wants of customers 2) Satisfy them 3. How to achieving these two? Exchange : trade of things of value between a buyer and seller so both sides better off 2. The Diverse Factors Influencing Marketing Activities Not only marketing department, but there are more nets involve. Marketing is responsible for facilitating relationships partnerships, and alliances with customers, shareholders, suppliers, and other organizations. And Environmental forces: social, economic, technological, competitive, and regulation. 3. What is Needed for Marketing to Occur 1. Four factors 1) Two or more parties with unsatisfied needs 2) Desire and ability to satisfy these needs 3) A way for the parties to communicate 4) Something to exchange: both better off How Marketing Discovers and Satisfies consumer needs Discovering Consumer Needs Eg. Bell, a bike company did survey to collect customers ideas. Great sale The Challenge: meeting Consumer Needs with New Products 2. 94% New products don't succeed. How? 1) Focus on what the customer benefit is 2) Learn from the past Do both: Consumer Needs and Consumer Wants What a Market Is Potential consumers make up a Market: people with both desire and the ability to buy a specific offering. All markets are people. 1. how marketing department make a decision: Discover consumer needs, 4Ps
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Issues and Ethics in the Helping Professions
The document you are viewing contains questions related to this textbook.
Chapter 2 / Exercise 03
Issues and Ethics in the Helping Professions
Corey/Corey
Expert Verified
Satisfying Consumer Needs 2. target market: one or more specific groups of potential consumers toward which an organization directs its marketing program The four Ps: Controllable Marketing Mix Factors 1. marketing mix: the controllable factors: product, price, promotion, and place-that the marketing manager can use to solve a marketing problem 2. customer value proposition: a cluster of benefits that an organization promises customers to satisfy their needs The Uncontrollable, Environmental Forces 1. environmental forces: beyond control economic, social, technological, competitive, and regulatory forces The marketing program: How customer relationships are built Customer Value and Customer Relationships 1. customer value: is the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale services at a specific price eg. Southwest airlines, Walmart best price, Starbucks, Nike best products, Lands’ End exceptional service Relationship marketing and the Marketing Program Firms achieve meaningful customer relationships by creating connections with 4Ps Relationship Marketing: Easy to Understand, Hard to Do Relationship Marketing: linking the organization to its individual customers, employees, suppliers, and other partners for mutual long-term benefit.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture