Marketing 3130 @UTC

Marketing is:
A philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction.
& An organizational activity, set of institutions, and processes.
What are the 4 Philosophies?
Production, Sales, Market and Societal
Production
Internal capabilities of the firm
Sales
Aggressive sales techniques and belief that high sales result in high profits
Market
satisfying customer needs and wants while meeting objectives
Societal
satisfying customer needs and wants while enhancing individual and societal well-being
Sales vs Market
Selling goods vs satisfying wants
Elements of a marketing plan?
Perceived value
Co-creation
Build a bear
5 Conditions of exchange
At Least Two Parties
Something of Value
Communication and Delivery
Freedom to Accept or Reject
Desire to Deal with Other Party