Intro to Marketing Rutgers Monga Chapter 1

4 P’s
Controllable Marketing Mix Factors 1.) Product 2.) Price 3.) Place 4.) Promotion
uncontrollable environmental factors
Sociable, Economic, Tech., Competition, Regulatory
Customer Value
benefits received by targeted buyers that includes quality
Relationship Marketing
easy to understand; hard to do. links the organization to its individual customer for long-term benefits
market concept
1. satisfy the needs of consumers 2. Trying to achieve the organization’s goals
Market Orientation
1. collecting information about cutomers needs 2. sharing it across departments 3. using it to create customer value
customer relationship management (CRM)
identifying buyers, so buyers will choose them