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22 Cards in this Set
- Front
- Back
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Marketing |
philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. An organizational activity, set of institutions, and processes |
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American marketing Association Definition |
the activity, set of institutions, and processes for creating, communicating, delievering, and exchanging offerings that have value for customers, clients, partners, and society at large |
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Marketing Exchange Conditions |
At least two parties, something of value, communcation and delivery, freedom to accept or reject, desire to deal with other party
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Four marketing management philosophies |
Production Sales Market Societal
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Marketing management philosophy: Production |
internal capabilities of the firm
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Marketing management philosophy: Sales |
aggresive sales techniques and belief that high sales result in high profits |
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Marketing management philosophy: Market |
satisfying customer needs and wants while meeting objectives
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Marketing management philosophy: Societal: |
satisfying customer needs and wants while enhancing individual and societal well-being
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Production Orientation
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Doesn't consider if what is produced meets market needs |
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Sales Orientation |
Disregards market needs and consumer demand. Despite the quality of sales force, often cannot convince people to buy what is neither wanted nor needed.
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Marking Orientation |
Marketing Concept: Focusing on customer wants and needs to distignuish products from competetiors' offerings
Intergrating all the organization's activities to satisfy these wants
Achieving the organization's long-term goals by satisfying customer |
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Acheiving a Marketing Orientation |
-Obtain information about customers, competitors, and markets -Examine the information from a total business perspective -Determine how to deliver superior customer value -Implement actions to provide value to customerses
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Societal Marketing Orientation |
-An organization exists not only to satisfy customer wants but also to preserver or enchance individuals' and society's long-term best interests -For example: Less toxic products, more durable products, products with reusable or recyclable materials -Increased availbility of comparative research enables customers to shop smarter, putting the customer in the driver seat |
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Comparing Sales and Marketing Orientations: |
-Organization's focus -Firm's buisness -Those to whom the products is directed -Firm's primary goal -Tools the organization uses to achieve it's goals |
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Sales Orientation |
Inward looking, and what the firm makes |
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Market Orientation |
Outward looking, and waht the market wants |
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Customer Value Requirements |
-Offer products that perform -Earn trust -Avoid unrealistic pricing -Give the buyer facts -Offer organization-wide commitment in service and after-sales support -Co-creation with customers |
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Customer satisfaction |
The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations |
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Relationship Marketing |
Strategy that focuses on keeping and improving relations with customers. -Successful strategies need: 1. Customer-orientated Personnel 2. Effective training Programs 3. Empowered employees 4. Teamwork
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Building Relationships |
- Customer-oriented personnel 1. Every employee represents the firm in the eyes of the customer -Employee training programs -Empowered Employees 1.Employees are given more authority to solve customer problems on the spot. -Teamwork 1. Emphasizing cooperation over competition while helping a customer |
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Defining a firm's business |
Sales Orientation: Goods and Services Marketing Orienation: benefits that customers seek
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Knowing the firm's business |
-Ensures a customer focus -Encourages innovation and creativity -Stimulates an awareness of changes in customer preference |
