1,2,3,4,5,7,8,9,10,11,12,14,15,18, and 19
Marketing- Activity for creating communicating, delivering, and exchanging offerings
that benefit the organization, its stakeholders and society at large.
Exchange-the trade of things of value between buyer and seller
Marketing to occur
two or more parties with unsatisfied needs
a desire and ability on their part to be satisfied
a way for parties to communicate
something to exchange
Market- potential customers with both desire and ability to buy a specific offering
Target market- one or more specific groups of potential consumers toward which an
organization directs its marketing program
marketing mix- the marketing mangers controllable factors product price promotion and
environmental forces- forces beyond marketers control. Examples social, economic,
technological, competitive, and regulatory forces
customer value- the unique combination of benefits received by targeted buyers that
include quality, convience, on time deliver, and both before sale and after sales service at
a specific price.
Relationship marketing- linking the organization to its individual customers, employees,
suppliers and other partners for their mutual long-term benefits.
Marketing Program- a plan that integrates the marketing mix to provide a good, service
or idea to prospective buyers.
Marketing concept- idea that an organization should strive to satisfy needs of consumers
while also trying to achieve the organization’s goals.