Term
| What is marketing about? |
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Definition
| Identify and meeting human and social needs. "Meeting needs profitability" |
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Term
| What is marketing management? |
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Definition
| The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. |
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Term
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Definition
| Set of benefits that satisfy needs. |
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Term
| What makes up the customer value triad? |
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Definition
| Quality, service, and price |
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Term
| Three marketing channels? |
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Definition
Communication - deliver and receive messages
Distribution - display, sell, or deliver product
Service channels - used to carry out txns, e.g., warehouses, transportation companies, banks. |
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Term
| What is the task environment? |
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Definition
| Actors engaged in producing, distributing, and promoting the offering. |
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Term
| What is the production concept? |
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Definition
| Consumers prefer products that are widely available and inexpensive. |
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Term
| What is the product concept? |
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Definition
| Consumers favor products offering the most quality, performance, or innovative features. |
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Term
| What is the selling concept? |
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Definition
| Holds that consumers and businesses, if left alone, won't buy enough of the organization's products. |
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Term
| What is the marketing concept? |
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Definition
| The job is to find the right products for your customers. |
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Term
| What is the marketing concept? |
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Definition
| The job is to find the right products for your customers. |
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