Marketing 3300 utd ch1-ch5

marketing
the activity for creating , communication , delivering and exchanging offerings that benefit its customers.
exchange
the trade of things of value between a buyer and a seller so that each is better off after the trade
market
is people with both the desire and the ability to buy a specific offering
target market
one of more specific groups of potential consumers toward which an organization directs its marketing program
marketing mix
4 controllable factors , product , price , promotion and place
4 ps
product , price , promotion and place
customer value proposition
a cluster of benefits that an organization promises customers to satisfy their needs
customer value
the unique combination of benefits received by targeted buyers that includes quality, convenience , on time delivery and both before sale and after sale service at a specific price.
relationship marketing
links the organization to its individual customer , employees , suppliers , and other partners for their mutual long term benefit.
environmental forces
affect a marketing decisioin which consist of social , economic , technological , competitive and regulatory forces.
marketing program
a plan that integrates , the marketing mix to provide a good a, service or idea , to prospective buyers
market segments
realtively homogeneous groups of propective buyer that have common needs,respond similarly to a maketing action .
marketing concepts
market orientation
customer relationship managemetn
customer experience
societal marketing concept
product
a good, service,or idea
ultimate consumer
people , who use the products and services purchased for a household
organizational buyer
those manufactures , wholesalers , retailer and goverment agencies that buy products and services for thier own use or for resale.
utility
the benefit or customer value received by users of the product