marketing - Chapter one creating customer relationships and...

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Chapter one creating customer relationships and value through marketing 1. Extra reading one : bare necessities marketing luxury goods in a bad econmy 2. Marketing is the activity of creating communicating delivering and exchanging offerings that benefit an organization, its stakeholders and society at large. 3. Exchange-trade of things of value between buyer and seller to create value, each one is better off 4. Discover the needs and wants of prospective customers and satisfy them. 5. For marketing to occur- 2 or more parties unsatisfied needs, desire to be satissifed, way for paeties to communicate, something to exchange. 6. First objective in marketing discovering needs of comsumers 7. Challenge meeting consumer needs with products, produce what they need and want instead, avoiud showstoppers 8. Need-feel deprived of basic necessities, want shaped by knowledge culture 9. Market- people with the desire and abilty to buy a specific offering 10. Target market- one or more specific groups of potential consumers toward which an organization directs its marketing program. 11. Marketing mix, the four p’s the marketing magagers controllable facors used to solve a problem. product: a good, service or idea to satisfy the consumers need price; what is exchanged for product Promotion: a means of communicatrion between buyer and seller place: getting the prodct to the consumer 12. Uncontrollable environemental factors- social, eco, ttechnolgicial, regulatory competive forces 13. Customer value- how customer perceive values and then actually delivewring them, unique combination of benefits received by buyers like quality and conveneience. Loyal customers purchase more, big bad john at wendys 14. Relationship marketing- linking the org to individual customers, employees, suppliers for long term benefits
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15. The marketing program- tangible program that integrates marketing mix to provide a good sercie or idea to buyers. 16. Post it flag pen: highlighter and notepad 17. Marketing concept- satisfy needs of customers and also try to achieve the organizations goals 18. Market orientation- focuses collecting info on comsumer needs , sharing this info, and creating consumer value 19. Customer relationship management- identifying buyers, undertasadnig them intimately, devoliong favorable long term perceptions 20. Customer experience- internal response customers have to all aspacts of n org and its offering. Direct and indirect contacts with company 21. Social marketing concept- orgs satisfy need of consumers in a way that provides for socitys well-being. 22. Social responsibility- belief that organizations are accountable to a larger society for their actions. 23. Ultimate consumers-use services for a houshlod 24. Organizational buyers- manufacturers, retailers, buy gooda and services for resale 25. Utilty- the benfits of consumer value by users of the prodct. 26. First step identify unment needsof students
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This note was uploaded on 11/28/2010 for the course MKT 337 taught by Professor Mcallister during the Fall '07 term at University of Texas at Austin.

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marketing - Chapter one creating customer relationships and...

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