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Unformatted text preview: Connie Cheung 9/21/07 World of Business Chapter 13 Notes What is Marketing? Marketing- process of planning and executing the conception, pricing, promotion, and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives The Evolution of the Field of Marketing Evolution of marketing involved 4 eras: 1) Production Era- (Early 1900s) Produce as much as you can because there is a limitless market business owners were mostly farmers, carpenters, and trade workers 2) Selling Era- (1920s) Businesses had developed mass-production techniques (i.e: automobile assembly lines) and production capacity often exceeded the immediate market demand 3) Marketing Concept Era- 1945; there was a tremendous demand for goods and services among the returning soldiers who were starting new careers and beginning families; baby boom Marketing Concept 1) A customer orientation- Find out what consumers want and provide it for them 2) A service orientation- Make sure everyone in the organization has the same objective: customer satisfaction 3) A profit orientation- focus on the goods and services that will earn the most profit and enable the organization to survive and expand to serve more consumer wants and needs Customer relationship management (CRM) the process of learning as much as possible about customers and doing everything you can to satisfy them with goods and services over time The Marketing Mix- Much of what marketing people do has divided into four factors:- ( marketing mix- these four factors are blended together in a marketing program)...
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This note was uploaded on 03/20/2008 for the course BINT 101 taught by Professor Lifton during the Fall '07 term at Ithaca College.
- Fall '07