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20 Cards in this Set
- Front
- Back
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2 suggestions for new products
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1)focus on what customer benefit is 2) learn from past
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when does need/want occur
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when person feelss deprived of basic neccessity. want is when need is shaped by knowledge, culture, personality
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what is a market
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made up by potential customers which is people with both desire and ability to buy a specific product
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target market?
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1 or more specific groups of potential customers toward which and org directs its markteing
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4 P's of marketing
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Product, Price, Promotion, Place.
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marketing mix?
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marketing managers controllable factors(4 P's)- that can be used to solve the problem
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5 uncontrollable enviromental factors factors
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social, economic, technological, competitive, and regulatory
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customer value?
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unique combo of benefits recieved by targeted buyers that include quality, price, convenience, on time delivery, and both before and after sale service
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production era
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Goods were scarce and products would sell themselves. no marketing
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sales era
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hiring sales people
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marketing concept era
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idea that org. should strive to satisfy customer needs and also while achieving org's goal
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customer era
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market orientation - focues efforts on continuously collecting info about customer needs, sharing this info across depts, and using it to create customer value
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customer relationship management (CRM)
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process of indentifying prospective buyers, understanding them intimatley and devloping favorable long term perceptions of the org so that customers will choose them.
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consumer
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buy for ourselves or household
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customer
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consumers and org. customers to buy for org's use.
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concept exchange and bartering
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value by customers equals an exchange w/ $. Bartering is trading
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3 factors influence marketing functions
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org., society, external
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explain 3 factors of marketing functions
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org- how well marketing is, impacts how they'll do
society - influences orgs markeing ( shareholders_ external - uncontrollable factors |
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how are needs and wants discovered
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marketing research
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marketing came out of economics - what makes difference
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price
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