MKGT ch 1
Card Set Information
MKGT ch 1
creating customer relationships
mkgt ch 1
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.