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Marketing Chapter 1 - Chapter 1 Introduction To Marketing...

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Chapter 1 Chapter 1 Introduction To Marketing Introduction To Marketing
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Marketing and its Environment
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Marketing Mix Variables Product Product Distribution Distribution Promotion Promotion Pricing Pricing Goods, services, or ideas that satisfy customer needs The ready, convenient, and timely availability of products Activities that inform customers about the organization and its products Decisions and actions that establish pricing objectives and policies and set product prices
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Defining Marketing Marketing The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment Customers/Buyers The purchasers of products/services; the focal point of all marketing activities
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Marketing Focuses on Customers Target Market A specific group of customers on whom an organization focuses its marketing efforts Large or small customer groups Single or multiple product markets Single or multiple products Local to global markets
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Marketing Builds Satisfying Exchange Relationships Exchange The provision or transfer of goods, services, or ideas in return for something of value
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Marketing Builds Satisfying Exchange Relationships (cont’d) Exchange Conditions Two or more participants have something of value that the other party desires.
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