MKGT ch 1
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Marketing focuses on ____ & _____ customer needs.
What is Marketing?
the activity of creating, communicating, delivering & exchanging offerings to benefit org, stakeholders & society at large.
4 factos needed for marketing to occur
- 1. 2 or more parties with unsatisfied needs
- 2. desire & ability to satisfy needs
- 3. way of communication between parties
- 4. something to exchange
An organization can't satisy the needs of all consumers, so it must focus on one or more subgroups, which are its ________.
What are the 4 marketing mix elements that make up the organization's marketing program?
product, price, promotion & place
What are environmental forces?
Those that the organization markeing department can't contorl. Includes social, economic, technological, competitive & regulatory forces
What are the two key characteristics of marketing concept?
- 1. strive to satisfy customer needs
- 2. try to acheive organization goals
What is the difference between ultimate consumers & organizational buyers?
ultimate consumers are people who use the goods/services in the household while organational buyers are orgs that buy goods/services for their own use or to resale.
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