notes - 14:13 Chapter1: Marketing...

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Principles of Marketing 14:13 Chapter 1: An Overview of Strategic Management Marketing The process of creating, distributing, promoting, and pricing goods, services, and  ideals to facilitate satisfying exchange relationships with customers in a dynamic  environment Customers The purchasers of organizations’ products; the focal point of all marketing activities Three basic functions of any business Operations Marketing The driving force, can’t have the others without it Finance ***slide 8 of first ppt. memorize chart Target market A specific  group of customers on whom the organization focuses its marketing efforts Large or small customer groups Single or multiple product markets Single or multiple products Local to global markets The marketing mix Four marketing activities—product, distribution, promotion, and pricing—that a firm  can control  to meet the needs of customers within its target market (four Ps) Product: goods, services, or ideas that satisfy customer needs Distribution: the ready, convenient, and timely availability of products (place) Promotion: activities that inform customers about the organization and its products
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  • Spring '14
  • BurtSmith
  • Marketing, Technological singularity

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