Chapters 1-5 review - Review Sheets: The most important...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Review Sheets: The most important facts and ideas that we discussed in class. This, along with the assigned readings of Chapters 1, 2, 3, 4and 5 will be necessary for success in the upcoming examination Chapter 1 Creating Goods Facilitating Develop Distributing of Services for Satisfying to Maintain Promoting Ideas Relationships Favorable Pricing Relationships Marketing: Process of determining customer’s needs and wants and then providing goods/services tha exceed expectations Customers: purchasers of a product, focal point of marketing activities Target Mix: Specific group of customers Product Variables: 4 P’s of Marketing (Marketing Mix) -Product: Any physical good/service/idea that satisfies a want/need -Price: Include costs involved with production/distribution/promotion of product -Placement/Distribution: How to get it to the consumer -Promotion: Advertising/Personal Selling/Public Relations/Publicity/Sales Incentives Marketing Management process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods/services for mutual exchange Exchanges the conversion of goods/services between two or more parties Marketing Concept- Providing products that: 1. Satisfy customer needs 2. Through coordinated activities 3. Which allow organization to meet financial goals Customer Relationship Management What is Marketing? Definitions and Points of View. Economist POV: Exchange of value via transaction Op Mgt POV: Analysis & forecasting to produce strategy by which the life of the organization is maintained and expanded
Background image of page 1

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

View Full DocumentRight Arrow Icon
Historically 1850’s - 1920’s Production Orientation Build/Buy 1920’s - 1950’s Sales Orientation Sell/Buy 1950’s - 1990’s Marketing Orientation Meet a Need/Buy 1990’s – Present Relationship Orientation Continuous Agreement Strategy to acquire intelligence on the consumer to establish a long-term relationship Value Driven Marketing- Customer’s subjective cost-benefit analysis Marketing Management Effectiveness- Does the exchange meet the goal? Efficiency- Minimizing resources needed to obtain a goal Planning- Systematically assessing opportunities and resources and then determining when/how to use them Organizing- Developing internal structure to meet goal Implementation- Bringing plan to life Control Process- Performance Management Marketing is first and foremost a communication device: -inform -create awareness -being an advocate Strategic Planning (All of which needs to be done at the highest levels of efficiency) 1. Establish Mission 2. Formulate Goals 3. Development of Methodology to Meet Goals 4. While Recognizing Customer Satisfaction Marketing Strategy -identify/analyze target market -developing marketing mix to satisfy target Marketing Plan- Written document of the Marketing Strategy Core Competencies Marketing Opportunities/Strategic Windows Competitive Advantage SWOT Analysis: Strength Opportunities Weaknesses Threats
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/30/2011 for the course SPANISH 101 taught by Professor Staff during the Fall '10 term at Community College of Philadelphia.

Page1 / 12

Chapters 1-5 review - Review Sheets: The most important...

This preview shows document pages 1 - 3. Sign up to view the full document.

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