The activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
A three-part business philosophy: customer orientation, a service orientation, profit orientation.
Customer relationship management
the process of learning as much as possible about customers and doing everything you can to satisfy them or even exceed their expectations, with good and services.
The ingredients that go into a marketing program: product, price, place, and promotion.
Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand.
A world, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors.
The marketing process
Find opportunities; conduct reasearch; identify a target market; design a product to meet the need based on research; do product testing; determine a brand name; design a package, and set a price;select a distribution system; design a promotional program; build a relationship with customer
All the techniques seller's use to inform people about and motivate them to buy their products or services.
The analysis of markets t determine opportunities and challenges, and to to find the information needed to make good decisions.
The marketing research process
Defining the question and determining the present situation, collection research data, analyzing the research data, choosing the best solution and implementing it.
Information that has already been compiled by others and published in journals and books or made available online.
A small group of people who meet under the direction of discussion leader to communicate their opinions about an organization, its products, and other given issues.
The marketing environment
Global factors, technological factors, sociocultural factors, competitive factors, economic factors.
All the individuals or households that want goods and services for personal consumption or use.
Business-to-business (B2B) market
all the individuals and organization that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others.
The process of dividing the total market into groups whose members have similar characteristics.
Marketing directed toward those groups (target segments) an organization decides it can serve profitably.
Dividing the market by determining which benefits of the product to talk about.
The process of finding small but profitable market segments and designing or finding products for them.