Marketing Kerin 10th Edition Chapter 1

Marketing
activity for creating, communicating, delivering, and exchanging offerings that befire the organization, stakeholders, and society
exchange
trade of things between buyer/seller
4 THINGS needed for marketing to occur
1-unsatisfied needs
2-desire and ability to be satisfied
3-a way for parties to communicate
4- exchange
target market
specific group of potential consumers toward which an organization directs its marketing program
marketing mix
product, price, promotion, place
environmental forces
social, economic, regulatory, technological, competitive
customer value
benefits
relationship marketing
liking organizations to individual customers or employees for long term benefits
marketing program
plan that integrates marketing mix to provide good, service`
marketing concept
organization should satisfy needs while also trying to achieve orgs goals
market orientation
collect info about customers needs
share info across departments
create value
customer experience
internal response customers have to organization
societal marketing
view that organizations should satisfty needs of consumer in that provide for societys well being
ultimate consumers
people who purchase goods for household use
organizational buyers
manufactures, reatilers
utility
benefits or customer value
form utility
production of goods or services
place utility
having the offering available where consumers need it
time utility
available when needed
possession utility
value of marking an item easy to purchase, credit cards