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An organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
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specific group of potential consumers |
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- Product
- Price
- Place
- Promotion
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combination of benefits received by targeted buyers
(quality, price, convenience, on-time delivery, and before/after sale service) |
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Production Era
(first era) |
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Definition
I. Evolution of Marketing
Goods were scarce and buyers were willing to accept virtually any goods that were available |
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I. Evolution of Marketing
Manufacturers discovered that they were able to produce more goods then buyers were able to consume |
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Marketing- Concept Era
(Third era) |
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I. Evolution of Marketing
should strive to satisfy the needs of consumers while also trying to achieve the goal |
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Customer Era
(Fourth Era) |
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Definition
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I. Evolution of Marketing
continuously satisfy the high expectations of customers |
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continuously collect info about needs and wants, sharing the info, and creating customer value |
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benefits/ customer value received by users of the product
The four Utilities are:
form, place, time, possession |
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measure how well the mission is being accomplished
-Profit, Sales, Market Share, Quality, Customer Satisfaction, Employee |
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| trade of things of value between buyer and seller so that each is better off |
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| Specific group of potential consumers toward which an organization directs its marketing program |
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| uncontrollable marketing factors such as social, economic, technological, competitive, and regulatory |
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Definition
| buyers’ benefits including quality, price, convenience, on-time delivery, and before-and after-sale service |
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| linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit |
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| plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers |
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| idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals |
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| focusing organizational efforts to collect and use information about customers’ needs to create customer value |
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| Societal Marketing Concept |
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| view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being |
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| people who use the goods and services purchased for household |
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| manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale |
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