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7 Cards in this Set
- Front
- Back
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Define marketing management |
The process of planning and executing the conception, pricing, promotion and destribution of an idea, goods or services to create exchanges that satisfy individual and organizational goals |
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Consumer satisfaction |
The feeling that a product or service has met or exceeded the customers expectations |
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Benefits of consumer satisfaction |
Lower acquisition costs Base profit Revenue growth Cost savings Referrals Price premium |
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Conditions of exchange |
At least two parties Have something of value Willing to deal with anotherboartt Be able to communicate and deliver Free to accept or reject |
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Evolution of marketing thought |
Operation oriented management Sales oriented management Marketing oriented management Consumer oriented management Strategic approach to management Relationship marketing |
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Principles of the marketing concept |
Principle of profitability Principle of consumer orientation Principle of social responsibility Principle of organizational integration |
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Role of marketing in the economy |
Discrepancy of assortment Discrepancy of quantity Spartial separation Separation in time Seperation in information Seperation in ownership Seperation in value |
