Chapter 12

Chapter 12 - Manter 1 Chapter 12 Chapter 12 Customer-Driven...

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Manter 1 Chapter 12 Chapter 12 – Customer-Driven Marketing Marketing – process of planning and executing the conception, distribution, promotion, and pricing of ideas, goods, services, organizations, and events to create and maintain relationships that satisfy individual and organizational objectives. Exchange Process – activity in which two or more parties give something of value to each other to satisfy perceived needs. Utility – want-satisfying power of a good or service. Time Utility – availability of a good or service when customers want to purchase it. Place Utility – availability of a product in a location convenient for customers. Ownership Utility – orderly transfer of goods and services from the seller to the buyer; also called possession utility. Marketing Concept – companywide consumer orientation to promote long-run success. Customer Satisfaction – result of a good or service meeting or exceeding the buyer’s need and expectations. Value-added – good or service that exceeds value expectation because the company has added features, lowered its price, enhanced customer service, or made other improvements that increase customer satisfaction. Quality – degree of excellence or superiority of a firm’s goods and services. Person Marketing – use of efforts designed to attract the attention, interest, and preference of a target market toward a person. Place Marketing – attempt to attract people to a particular area, such as a city, state, or nation. Event Marketing – marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances. Cause Marketing – marketing that promotes a cause or social issue, such as the prevention of child abuse, antilittering efforts, and antismoking campaigns. Organization Marketing – marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in some way to an organization. Consumer (B2C) Products – good or service, such as DVDs, shampoo, and dental care, that is purchased by end users.
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Manter 2 Chapter 12 Business Products – good or service purchased to be used, either directly or indirectly, in the production of other goods for resale. Target Market – group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences. Marketing Mix – blending the four elements of marketing strategy—product, distribution,
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This note was uploaded on 11/28/2010 for the course BUS 101 taught by Professor Hunter during the Spring '08 term at Bryant.

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Chapter 12 - Manter 1 Chapter 12 Chapter 12 Customer-Driven...

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