exam review notes - exam 1 review/notes 17:18 CHAPTER 1...

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Unformatted text preview: exam 1 review/notes 17:18 CHAPTER 1 Marketing is the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders and society at large Assessing and satisfying consumer needs To occur: 1) two or more parties with unsatisfied needs, 2) desire and ability to be satisfied 3) ways to communicate 4) something to exchange. Marketing Program A plan that integrates the marketing mix to provide a good, service or idea to prospective buyers. Target Market one or more specific groups of potential consumers toward which an organization directs its marketing program Marketing Mix - marketing managers controllable factors : product, price, promotion, and place. Customer value - building long term relationships CRM- customer relationship management- identifying prospective buyers, understanding them, developing long term perceptions. Key characteristics of the marketing concept: An organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organizations goals. marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. marketing concept is the idea that an organization should strive to satisfy the needs of consumers, while also trying to achieve the organizations goals market orientation focuses its efforts on continuously collecting information about customers needs and competitors capabilities, sharing this information across departments, and using the information to create customer value. societal marketing concept is the view that an organization should discover and satisfy the needs of its consumer in a way that also provides for societys well- being Macromarketing looks at how the aggregate flow of a nations goods and services benefits society Micromarketing is how an individual organization directs its marketing activities and allocates its resources to benefit its customers Ultimate consumers are the people who use the goods and services purchased for a household Organizational buyers are units such as manufacturers, retailers, or government agencies that buy goods and services for their own use of for resale Utility is the benefit or customer value received by uses of a product CHAPTER 2 Organization share a common mission Business Firm earns a profit Profit Revenue (Sales) minus Expenses Nonprofit nongovernmental, no profit Industry Organizations with similar offerings...
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This note was uploaded on 11/15/2009 for the course BA 3365 taught by Professor Haworth during the Fall '09 term at University of Texas at Dallas, Richardson.

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exam review notes - exam 1 review/notes 17:18 CHAPTER 1...

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