Five core customer and marketplace concepts

Customer Needs, Wants, and Demands

Market Offering (Products,Services, and Experiences

Customer Value and Satisfaction

Exchanges and Relationships

Five alternative concepts under which organizations design and carryout their marketing strategies

Production concept= consumers favor products that are available and highly affordable

Product Concept= consumers favor wuality, performance, and innovative features

Selling Concept= consumers will not buy enough of the firm's products unless it undertakes a large-scale sellling and promotion effort

Marketing Concept= customers focus and value are the paths to sales and profits

Social Marketing=pure marketing concept overlooks possible conflicts between consumer short-run and consumer long-run welfare

Explain company-wide strategic planning and its four steps

Strategic planning- the process of developing and maintaing a strategic fit between the organization's goals and capabilities and its changing marketing opportunities

Define a Market-Oriented Mission

Setting objectives and goals

Designing a business portfolio

Developing functional plans

Four P's

Product- means the goods-and services combination the company offers to the target market

Price- Is the amount of money custome must pay to obtain the product

Place- company activities that make the product available  to target consumers

Promotion- activities that communicate the merits of the product and persuade target customers to buy it

4 C's

Product- Customer solution

Price- Customer cost

Place- Convenience

Promotion- Communication