Prof. Dennis P. Huzey
Chapter 1: Marketing
MARKETING - all business activities that direct the flow of goods and services
(products) from the producer or manufacturer to the ultimate consumer or industrial user.
ULTIMATE CONSUMER - the avera
BUSINESS MARKETS AND BUSINESS BUYER BEHAVIOR
Business buyer behavior refers to the buying behavior of the organizations that buy goods and
services for use in the production of other products and services that are sold, rented, o
MANAGING MARKETING INFORMATION TO GAIN CUSTOMER INSIGHTS
MARKETING INFORMATION AND CUSTOMER INSIGHTS
Companies use such customer insights to develop competitive advantage.
To gain good customer insights, marketers must effectivel
COMPANY AND MARKETING STRATEGY: PARTNERING TO BUILD CUSTOMER
COMPANYWIDE STRATEGIC PLANNING: DEFIING MARKETINGS ROLE
The hard task of selecting an overall company strategy for long-run survival and growth is called
MARKETING: CREATING AND CAPTURING CUSTOMER VALUE
WHAT IS MARKETING?
A simple definition of marketing is managing profitable customer relationships.
Marketing must both attract new customers and grow the current customers.
CUSTOMER-DRIVEN MARKETING STRATEGY: CREATING VALUE FOR TARGET
Most companies have moved away from mass marketing and toward target marketing
identifying market segments, selecting one or more of them, and developing pro
NEW-PRODUCT DEVELOPMENT AND PRODUCT
NEW-PRODUCT DEVELOPMENT STRATEGY
A firm can obtain new products in two ways.
Acquisitionby buying a whole company, a patent, or a license to produce
NEW-PRODUCT PRICING STRATEGIES
Companies bringing out a new product face the challenge of setting prices for the first time. They
can choose between two broad strategies.
RETAILING AND WHOLESALING
Retailing includes all the activities involved in selling products or services directly to final
consumers for their personal, nonbusiness use.
Retailers: Businesses whose sales come primarily
COMMUNICATING CUSTOMER VALUE: INTEGRATED MARKETING
THE PROMOTION MIX
A companys total promotion mixalso called its marketing communications mixconsists of
the specific blend of advertising, sales promotio
PERSONAL SELLING AND SALES PROMOTION
Robert Louis Stevenson once noted that everyone lives by selling something.
The Nature of Personal Selling
Personal selling is one of the oldest professions in the world.