Shared Flashcard Set

Details

Chapter 1
Week 1
4
Marketing
Post-Graduate
11/23/2010

Additional Marketing Flashcards

 


 

Cards

Term
What is Marketing?
Definition

Marketing is about managing profitable customer relationships
Attracting new customers

Retaining and growing current customers

Term
What is the most important task you have as a company? Why? 
Definition
Retain your current customers because if you loose a customer it takes up to 10-15 times more $ to get a new customer. 
Term
What are two mains tasks in marketing?
Definition

1) going to customers, understanding what they want, what they think. Bring their ideas to the company

2) Company works around this & informs their customers of the decision and why this is a better choice for them

Term
What are the five steps for marketing process?
Definition

1)Customer needs, wants

 and demands

2) Market Offerings

3)Value and Satisfaction

4)Exchange vs. Relationship

5)Markets

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