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9 Cards in this Set
- Front
- Back
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What is Marketing? |
the activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers,clients, partners, and society at large |
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Concept of exchange: What conditions must be satisfied for an exchange to take place? |
People giving up something in order to receive something else they would rather have 1)there must be at least two parties 2)each party has something that must be of value to the other party 3) each party is capable of communicating and delivery 4) each party is free to accept or reject the exchange offer 5) each party believes it is appropriate or desirable to deal with the other party |
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Production Orientation: |
focus on the internal capabilities of the firm rather than on the desired and needs of the marketplace |
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Sales Orientation |
the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales results in high profits |
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Market Orientation |
assumes that sale does not depend on aggressive sales force but rather on a customer's decision to purchase a product; it is synonymous with the marketing concept |
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Social Marketing Orientation |
the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals and society's long-term best interest |
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Difference between sales and market orientations: |
Substantial: sales inward looking (focused on selling what the organization makes rather than making what the market wants marketing: Put customers at the center of their business (Zappos.com) |
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Why is it important to study marketing? |
Marketing plans an important role in society(grocery stores, frozen foods), marketing is important to businesses(marketing plan=growth), offer career opportunities(selling,research), affects everyday life (about half of every 1$ you spend pays for marketing) |
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Marketing concept |
the idea that the social and economic justification for an organization existence is that satisfaction of customer wants and needs while meeting organizational objectives |
