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11 Cards in this Set
- Front
- Back
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What is marketing?
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organizational function and a set of processes for creating, communicating, and delivering value to customers- managing customer relationships in ways that benefit the organization and stakeholders
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exchange
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people giving up something to receive something they would rather have
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production orientation
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focuses on internal capabilities of the firm rather than the desires and needs of the marketplace
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sales orientation
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based on the idea that people will buy more goods and services if aggressive sales techniques are used- high sales result in high profits
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marketing concept
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social and economic justification for an organizations existence is the satisfaction of customer wants and needs while meeting organizational objectives
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what does the marketing concept include
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1. focuses on customer wants and needs so that the organization can distinguish its products from the competition
2. integrating all activities to satisfy these wants 3. achieving long term goals for the organization by satisfying customer wants and needs |
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market orientation
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a sale does not depend on an aggressive sales force but on a customer's decision to purchase the product- must understand competitors strengths/weaknesses and your competitve arena
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societal marketing orientation
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organization exists to satisfy customer wants and needs but also to preserve or enhance society's long-term best interests
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relationship marketing
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strategy that focuses on keeping and improving relationships w/ current customers
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empowerment
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delegation of authority to solve customers problems quickly- usually by the first person the customer notifies regarding a problem
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strategic planning
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process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities- goal is long run profitability and growth
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