Chapter 12

Chapter 12 - Chapter 12 Tuesday, November 16, 2010 7:24 PM...

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Customer- Driven Marketing Best marketers create a link in consumers' minds between the new need and the fulfillment of that need by the product 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 - Exchange process: activity in which two or more parties give something of value to each other to satisfy perceived needs - What is Marketing? Create time utility by making a good or service available when consumers 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 Utility: want- satisfying power of a good or service - How Marketing Creats Utility Firm starts with analysis of customers' needs and works backwards to offer products that fulfill them Explained by shift from sellers' market in which goods and services are relatively scarce to buyers' market in which they are relatively plentiful Marketing Concept: company- wide consumer orientation to promote long- run success - Emergence of Marketing Concept 20 million not- for- profit exist worldwide - Apply marketing tools to reach audiences, secure funding, improve their image, and accomplish their overall missions - Sometimes a partner with a profit- seeking company to promote a message - Not- for Profit Marketing Non- Traditional Marketing Chapter 12 Tuesday, November 16, 2010 7:24 PM Intro To Business Page 1
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This note was uploaded on 05/05/2011 for the course BUS 100 taught by Professor Reeves during the Spring '11 term at Rutgers.

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Chapter 12 - Chapter 12 Tuesday, November 16, 2010 7:24 PM...

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