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Marketing Marketing
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An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the Pertains to all decisions involved in creating and keeping customers by understanding their needs of consumers and satisfying them.
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organization and its stakeholders.
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Customer Value Expectations – Performance
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Customer satisfaction equation: The relationship between benefits and the sacrifice necessary to obtain those benefits.
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Exchange Process Customer Satisfaction
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The feeling that a product met or exceeded the customer’s expectations. Two or more parties give something of value to each other to satisfy felt needs.
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Production Orientation Demand
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A measure of the desire that potential customers have for a product or service, plus their willingness and ability to pay for it. Manufacturing focus; business success often defined solely in terms of production victories; focus on internal capabilities.
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1. At least two parties 2. Something of value 3. Communication and delivery 4. Freedom to accept or reject 5. Desire to deal with other party Sales Orientation
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Customers resist nonessential goods and services; aggressive personal selling and advertising focus; maximizing sales volume. Conditions for exchange:
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Societal Marketing Orientation Marketing Orientation
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Satisfying consumer needs while meeting firm objectives and long-term goals; find out customers’ needs and fulfill them. Satisfying customer needs and wants while enhancing individual and societal well-being.
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1. Organization’s focus 2. Firm’s business 3. Those to whom the product is directed 4. Firm’s primary goal 5. The tools used to achieve those goals 1. Person marketing 2. Place marketing 3. Organization marketing 4. Event marketing 5. Cause marketing
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Nontraditional marketing: Comparing the sales and marketing orientations:
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Target Market Marketing Strategy
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different set of activities to deliver a unique market mix of value to the target market. Group of people toward
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