business notes 3

business notes 3 - expectations. Relationship marketing- a...

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10-22-07 Nature of marketing – activities designed to expedite transactions Marketing - the process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations Marketing concept - create and maintain customer satisfaction with high quality, cost efficient products and services to build customer relationships, brand loyalty and brand advocacy through an integrated marketing communication process. Focusing on customer wants so the organization can distinguish its products from competitors’ offerings. Integrating all of the organization’s activities to satisfy these wants. Achieving long-term goals for the organization by satisfying customer wants and needs, legally and responsibly. Customer Value- the ratio of benefits to the sacrifice necessary to obtain those benefits, as determined by the customer. Customer Satisfaction- the customer’s feeling that a product has me or exceeded
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Unformatted text preview: expectations. Relationship marketing- a strategy that focuses on forging long-term partnerships with customers by offering value and providing customer satisfaction. Marketing The Right Principle Getting the right goods or services To the right people At the right place, time, and price Using the right promotion techniques ABCs of Marketing Always be customer driven Benchmark against the best in the world Continuously improve product/performance Develop the best value package Empower your employees Focus on relationships Generate profit/meet other org. objectives Elements in the marketing mix Product, place, price, promotion all effect Marketing Program Evolution of Marketing Production era up to early 1900s Selling era 1920s 1950s Marketing era 1950s +-customer -service-profit...
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This note was uploaded on 04/04/2008 for the course BUS 1750 taught by Professor Reck during the Spring '07 term at Western Michigan.

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