UNCC Bodkin Marketing Ch.1

Marketing
activity for creating, communicating, distributing, and exchanging offerings that benefit its customers, organization, and society as a whole
Occurring factors for Marketing
1. parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. ways for parties to communicate
4. something to exchange
Need
occurs whe a person feels deprived of basic necessities
Want
a need shaped by a person’s knowledge, culture, and personality
Market
people with both desire and the ability to buy a specific offering
Marketing mix
four controllable factors; product, place, price, and promotiong concept
Environmental forces
social, technological, economic, competition, and regulatory forcees
customer value
unique combination of benefits received targeted buyeers that include quality, convenience, on time delivery, and both before and after sales
Demand
human wants that are backed up by buying power
marketing program
a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
marketing concept
1. strive to satisfy the needs of consumers
2. trying to achieve the organizations goals
market oreintation
1. continuously collecting information about customers needs
2. sharing this information across departments
3. using it to create customer value
customer relationship marketing
process of identifying prospective buyers, understanding them intimately, and developing favorable long term perceptions of the organization and its offerings
Marketing Myopia
The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products
ultimate consumer
use the products and services purchased for a household
societal marketing concept
satisfy the needs of consumers in a way that provides for societies well being
organizational buyers
buy products and services for their own resale