Marketing Chapter 1 Outline

Marketing Chapter 1 - M a rketing Chapter 1 Outline M arketing the activity for creating communicating delivering and exchanging offerings that

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Marketing Chapter 1 Outline Marketing- the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large. - Stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas marketed to customers. - Seeks 1) to discover the needs and wants of prospective customers 2) satisfy the customers - Exchange – trade of things of value between buyer and seller so that each is better off after the trade Diverse Factors Influencing Marketing Activities What is Needed for Marketing to Occur? 1) Two or More Parties with Unsatisfied Needs 2) Desire and Ability to satisfy these needs 3) A way for parties to communicate 4) Something to exchange Discovering Customer Needs- first objective in marketing The Challenge: Meeting Customer Needs with New Products 1) Focus on customer benefit 2) Learn from the past Consumer Needs and Wants Need- person feels deprived of the basic necessities such as clothing, shelter. Want- need that is shaped by a persons knowledge , culture, personality. Organizations Marketing Department Discover consumer needs concepts for products satisfying consumer needs by designing a marketing program, having the right combination of (product, price, promotion, place) goods, services, ideas
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/24/2011 for the course MARKETING 3104 taught by Professor Klien during the Spring '11 term at Virginia Tech.

Page1 / 4

Marketing Chapter 1 - M a rketing Chapter 1 Outline M arketing the activity for creating communicating delivering and exchanging offerings that

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online