Marketing - Chapter 01

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Author:
tvancouver
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85207
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Marketing - Chapter 01
Updated:
2011-05-11 13:04:29
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Kwantlen Polytechnic University
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Kwantlen Polytechnic University - Marketing 1199 - Chapter 01
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  1. What is marketing?
    Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customer and for managing customer relationships in ways that benefit the organizations and its stakeholders.
  2. What are the 4 eras in the history of Marketing?
    • *Production: Prior to 1920s
    • *Sales: Prior to 1950s
    • *Marketing: Since 1950s
    • *Relationship: Since 1990s
  3. Marketing Myopia
    Management's failure to recognize the scope of its business. "Focusing products rather than customer"
  4. Personal Marketing
    Attention, interest and preference of a target market towards a person. e.g. political candidate, celebrities.
  5. Pleace Marketing
    Attract people and organizations to a particular geographic area.
  6. Cause Marketing
    Indentification and marketing of a social issue, cause or idea to a selected target market.
  7. Event Marketing
    Marketing of sporting, custural, and charible activities to a selected target market.
  8. Organization Marketing
    Marketing by mutual-benefit organizations, service organizations, and government organizations intended to influence others to accept their goals, receive their services, or contribute to them in some way.
  9. Not-for-profit Marketing
    - companies hope to generate as much revenue as possible to support their causes.
  10. Explain the shift from transaction-based marketing to relationship marketing
    - longer-term approach that emplasizes building relationships one customer at the time. Create and maintain a relationship with customers.
  11. Lifetime value of a customer
    Revenue and intangible benefits that a customer brings to an organization over ab average life time, minus the investment the firm has made to attract and keep the customer.

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