Term
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Definition
Book: the activity for creating, commmunicating, delivering and exchanging offerings that benifit others.
Self: creating awarness of value for a product so that someone has the desire to aquire it. |
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Term
| Identify the requirements for marketing to occur: |
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Definition
1. Two or more parties with unsatisfied needs
2. A desire and ability to be satisfied
3. A way for parties to communicate
4. Something to exchange |
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Term
| How Marketing Discovers Consumer Needs: |
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Definition
1. find potential consumers (market)
2. information about their needs (environmental scanning) |
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Term
| How Marketing Satisfies Consumer Needs: |
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Definition
1. Find target market
2. Design a marketing program that has the right market mix
3. Uncontrollable environmental factors |
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Term
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Definition
Product
Price
Promotion
Place |
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Term
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Definition
Social
Economic
Technological
Competitive
Regulatory |
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Term
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Definition
Links the organization to customers, employees, suppliers, and other partners for their mutual long-term benifit.
Involves a marketing program, a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. |
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Term
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Definition
| combination of benifits recieved by the targeted buyers that includes quality, convinience, on-time delivery, and both before-sale and after-sale sevice at a specific price. |
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Term
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Definition
| The fundemental, passionate, and enduring principles of an organization that guides its conduct over time. |
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Term
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Definition
| A statement of the organization's function in society, often identifying its customers, markets, products, and technologies. (vision) |
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