chapter 1 notes - Chapter 1 Creating Capturing Value...

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Chapter 1 Marketing - the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value. The value is intended for customers, clients, partners and society at large. Customer orientation - an organizational philosophy that focuses on satisfying customer needs and wants Needs - fundamental requirements—meeting them is the ultimate goal of behavior Want - the specific form of consumption desired to satisfy a need Effectiveness - occurs when the organization’s activities produce results that matter to customers Efficiency - operating with minimal waste of time and money Agility - the anticipation of market dynamics and speed of response to changing customer desires and competitor’s actions. Example: companies that consider the environmental impact of decisions are more agile than competitors that lag in this area. Market - all the organizations and individuals with the potential to have the desire and the ability to acquire value, that is to own a particular idea, good, or service. Macro-marketing - looking at marketing from a societal point of view Micro-marketing - seen as a function of the entire business or the responsibility or one or more departments. It is from the perspective of a single organization. Consumer (B2C) marketing - organizations sell to individuals or households that buy, consume, Business-to-business marketing - a business purchases goods/services to produce other goods, to support daily operations or to resell at a profit. They far outweigh the consumer market in dollar amount. Nonprofit marketing - an organization does not try to make a profit but instead attempts to influence others to support its cause by using its service or by making a contribution.
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chapter 1 notes - Chapter 1 Creating Capturing Value...

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