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6 Cards in this Set

  • Front
  • Back
How is Marketing Defined?
The anticipation, management, and satisfaction of demand through the exchange process.
Anticipation of Demand
Consumer research on a regular basis so it can develop and introduce offerings desired by consumers.
Management of Demand
Stimulation (motivates consumers to want firm's offerings due to attractive product designs, promotion, fair prices, etc.), Facilitation (locations, accepting credit cards, using informed salespeople, etc.), Regulation (when D>S).
Satisfaction of Demand
Product availability, performance upon purchase, safety, after sale service, etc.
The Marketing Environment
Consists of controllable factors, uncontrollable factors, level of success/failure reaching a goal, feedback, and adaptation.
Controllable Factors (Fig 2-2)
1.) Internal

2.) Top Management
a.) line of busn, overall objectives, role of mktg, role of other busn functions, corporate culture.

3.) Marketing