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MKT291Ch.1 - sale service at a specific price Relationship...

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Marketing 291 Exam 1 18:29  Chapter 1 “What a Market Is” through 3M’s Strategy & Marketing Program, pages 9-12.   Market People with both the desire and the ability to buy the specific offering Target Market One or more specific groups of potential consumers toward which an organization  directs its marketing program 4 P’s of Marketing (controllable factors) Product – a good, service, or idea to satisfy the consumer’s needs Price – what is exchanged for the product Place – a means of getting the product to the consumer Promotion – a means of communication between the seller and buyer Environmental Forces The uncontrollable social, economic, technological, competitive, and regulatory forces  that affect the results of a marketing decision Building Relationships Customer Value Buyers’ benefits, including quality, convenience, on-time delivery, and before-and-after-
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Unformatted text preview: sale service at a specific price Relationship Marketing Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit Marketing Program A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers Social Responsibility through end of chapter, pages 15-16. Societal Marketing concept The view that organizations should satisfy the needs of consumers in a way that also provides for society’s wellbeing Who is the Customer? Ultimate Consumers The people who use the goods and services purchased for a household Organizational Buyers Manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use of for resale Utility The benefits or customer value received by users of the product...
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