Marketing Chapter 1 Slides

All of the following are basic marketing mix decisions EXCEPT?
– 4 Ps
-sales
Which management philosophy focuses on the question “what do customer want?”
-market
What is a product?
– not a thing but the total package
– selling status, prestige, image
– typically pay for intangibles then the actiaa; product
Marketing?
– activitty, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Exchange has to be at center of
– voulntary,
– exchange
Percieved value?
– what you get/what you pay
-(product)(Place)(promotion)/ (price)
Marketing Concept?
– 2 core activties
1. discover customers needs
2. satisfy customers needs
– ultimare responsibility of generating revenue for org
Marketing management philosophy?
– production orientation (marginal)
-sales orientation
– market orientation
-societal marketing oreintaion- “stakeholders”
Production?
– what can we make or do best
sales?
– how can we sell more aggressive
marketing philo?
– what do customers want and need
Price can help create?
-value ex. rolex, apple
Twin pillars of marketing?
segmentation and differentiation
customer relationship management?
– company-wide business start designed to optimize profitability, revenue and customer satisfaction by focusing on highly defines and precise customer groups