Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
Four requirements for marketing to occur
|
2 or more parties
desire and ability to be satisfied a way of communication something to exchange |
|
|
marketing
|
an organizational function and a set of processes for creating, commuinicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
|
|
|
discovering and satisfying customer needs
|
focus on what the customer benefit is and learn from the past
|
|
|
4 p's
|
price
promotion place (distribution) product |
|
|
five environmental factors
|
societal
environmental regulatory economic technological |
|
|
target market
|
one or more specific groups of potential customers toward which an organization directs its marketing programs
|
|
|
exchange
|
the trade of things of value between a buyer and seller so that each is better off after the trade
|
|
|
customer value
|
the unique combination of benefits received by target buyers that includes:
quality, price, convenience, on-time delivery, and before and after sale service |
|
|
relationship marketing
|
linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long term benefits
|
|
|
four eras of business
|
production
sales marketing customer |
|
|
goods, ideas, services
|
good: physical object
ideas: service: haircut, server |
|
|
ultimate consumer
|
the people who use the goods and services purchased for a household
|
|
|
organizational buyers
|
manufacturers, wholesalers, retailers, and gov agencies, that buy goods and services for their own use or for resale
|
|
|
types of utility
|
form: product design, package
place:distribution, location time: inv. management possession: transactions |
