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review - Chapter One What is Marketing Marketing Defined...

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Chapter One What is Marketing
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Marketing Defined The process of creating, pricing, distributing, and promoting goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment.
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Marketing... “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.” (AMA 1985).
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Conditions for Exchange 1. Two or more participants have something of value that the other party desires. (An unsatisfied need / want). 2. Exchange provides mutual benefit/satisfaction. (A desire to have the need satisfied). 3. Each party has confidence in the exchange value of the other party’s offering. (Something to exchange) 4. A way to communicate.
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The Evolution of the Marketing Concept Product Product Orientation Orientation Sales Sales Orientation Orientation Marketing Marketing Orientation Orientation Late 19th century: efficient production of goods allowed firms to meet strong customer demand. “If you build it they will come.” Mid-1920s–early 1950s: weakened demand required that products would have to be “sold.” (personal selling, advertising, and distribution was the focus) “You need this $9.99!” Early 1950s–2000s: adopting a customer focus means a commitment to researching and responding to customer needs. “Lets talk”
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The Marketing Concept Marketing Concept A philosophy that an organization should try to satisfy customers’ needs through a coordinated set of activities that also allows the organization to achieve its goals. The creation of a relationship which facilitate a dialog that allows the marketer to collaborate with the customer in building products and services that meets their needs. Customer satisfaction to loyalty and on to evangelism.
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Implementing the Marketing Concept Becoming marketing oriented requires establishing an information system to discover customers’ needs and using the information to create satisfying products. coordinating all marketing activities by restructuring the organization. obtaining the support of all managerial and staff levels in the organization.
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Chapter Two Planning Marketing Strategy
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Page 31
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Page 42
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Success Depends on... Quality Customer Relationships Efficiency Innovation The Organization’s Success
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Page 40
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Page 46
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Page 54
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Chapter Three Scanning the Market Environment
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Page 72
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Page 73
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Chapter Four Social Responsibility
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Page 99
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Page 107
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