-provides value to customers through close relationships with them to benefit
the organization and those closely related to it. Objectives- (1) discover the needs (customer
benefit, learn past)and wants of prospective customers, (2) to satisfy them.
trade of things of value between buyer and seller so that each is better off after the trade,
people with desire and ability to buy a specific product, potential customers.
specific group of potential consumers toward which an organization
directs its marketing program.
marketing managers controllable factors-
product, price, promotion, place- that can be used to solve a marketing problem.
uncontrollable marketing factors such as social, economic,
technological, competitive, and regulatory forces.
including quality, price, convenience, on-time delivery, and before- and after-sale service.
linking the organization to its individual customers, employees,
suppliers, and other partners for their mutual long-term benefits.
plan that integrates the marketing mix to provide a good, service, or idea to prospective
- up until 1920's goods were scarce and buyers were willing to buy
any available goods mass production at lower cost.
- 1920-1960's produce more
than goods than buyers could consume.
era- idea that organization
should strive to satisfy the
needs of consumers while also trying to achieve the
continuously collecting information about
customers needs, sharing this information across departments, and using it to create
- firms seek continuously to satisfy high expectations of
Societal Marketing Concept-
view that organizations should satisfy the needs
of consumers in a way that provides for societies well-being.
who use the goods and services purchased for a household.
manufacturers, wholesalers, retailers, and government agencies that buy goods and services
for their own use or for resale.
benefits or customer value received by users of the
product. Form, place- where consumers need it, time- available when needed, possession -