Marketing Chapter 1, 3, 6, 7, 8, 5

Front 1

Marketing

Back 1

the process of distribution, creating, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment

Front 2

Target market

Back 2

a specific group of customers an organization focuses in marketing efforts

Front 3

Marketing mix

Back 3

product
pricing
distribution
promotion

Front 4

Marketing exchanges

Back 4

the provision or transfer of goods, services, and ideas in return for something of value

Front 5

4 conditions of the Marketing Exchange

Back 5

1. 2 or more individuals, groups, or organizations must PARTICIPATE and each must posses something of value that the other party desires
2. the exchange should provide a BENEFIT or SATISFACTION to both parties involved in the transaction
3. each party much have CONFIDENCE in the promise of the "something of value" held by the other
4. to build trust, the parties to the exchange must MEET EXPECTATIONS

Front 6

Marketing environment

Back 6

the competitive, economic, political, legal and regulatory, technological, and sociocultural forces that surround the customer and affect the marketing mix.

Front 7

Customer relationship management (CRM)

Back 7

using information about customers to create marketing strategies that develop and sustain desirable customer relationshipos

Front 8

Relationship marketing

Back 8

establishing long-term, mutually satisfying buyer-seller relationships