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Ch12-IntrotoBusiness

Ch12-IntrotoBusiness - > > > > > > > >Chapter 12...

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> > > > > > > > Customer-Driven Marketing Chapter 12
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Summarize the ways in which marketing creates utility. Discuss the marketing concept. Describe not-for-profit marketing, and identify the five major categories of nontraditional marketing. Outline the basic steps in developing a marketing strategy. Describe the marketing research function. Identify and explain the methods available for segmenting consumer and business markets. Outline the determinants of consumer behavior. Discuss the benefits and tools for relationship marketing. 1 2 3 4 Learning Goals 5 6 7 8
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Marketing - set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Best marketers create a link in consumers’ minds between the new need and the fulfillment of that need by the product. Exchange process - activity in which two or more parties give something of value to each other to satisfy perceived needs. What is Marketing?
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Utility - want-satisfying power of a good or service . Create time utility by making a good or service available when customers want to purchase it. Create place utility by making a product available in a location convenient for customers. Create ownership utility through an orderly transfer of goods and services from the seller to the buyer. How Marketing Creates Utility
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Evolution of the Marketing Concept
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Marketing concept - company-wide consumer orientation to promote long-run success.
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