MGKT Chapter 1 OVERVIEW OF MKTG

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Author:
ndumas2
ID:
91865
Filename:
MGKT Chapter 1 OVERVIEW OF MKTG
Updated:
2011-06-23 23:24:07
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MGKT Chapter OVERVIEW MKTG
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Description:
Terms and info from the slides for Chapter 1
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  1. marketing
    the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customoers, clients partners, and socety at large
  2. exchange
    people giving up something to recieve something they would rather have
  3. Production Orientation
    internal capabilities of the firm
  4. Sales Orientation
    aggressive sales techniques and belief that high sales result in high profits
  5. Market Orientation
    satisfying customer needs and wants while meeting objectives
  6. Societal Marketing Orientation
    satisfying customer needs and wants while enhancing individual and societal well-being
  7. Marketing concept
    the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives
  8. customer value
    the relationship betweeen benefits and the sacrifice necessary to obtain those benefits
  9. customer satisfaction
    customers evaluation of a good or service in terms of wheather it has met their needs and expectations
  10. relationship marketing
    a strategy that focuses on keeping and improving relationships with current customers
  11. empowerment
    delegation of authoority to solve customers' problems quickly usualy by the first person that the customer notifies regarding a problem
  12. teamwork
    collaborative efforts of people to accomplish common objectives

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