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10 Cards in this Set
- Front
- Back
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Chapter 1
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MKT focused on customers
Identify important terms Customer Relationships Marketing Management Marketing in Society |
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Marketing
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NEED, WANTS AND DESIRE.
The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchanges with customers and develop favorable relationships with stockholders |
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Customers
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The buyers
The purchasers of organizations's products THE FOCAL POINT OFF ALL MARKETING ACTIVITIES |
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Components of an Strategic Marketing
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Product
Distribution Promotion Price |
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Target Marketing
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A specific group of customers on whom an organization focuses its marketing efforts.
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Marketing Mix
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Product
Distribution Promotion Price |
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Product Variable
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A good, a service, an idea
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Distribution Variable
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Make products available in quantities desired
Costs: Inventory, Transportation and Storage |
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Promotion Variable
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Activities to inform individuals or groups about the organization and its products
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Price Variable
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Decisions and actions associated with establishing pricing objectives and policies to determine prices
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