MKGT ch 1

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Author:
wsrdpc
ID:
92594
Filename:
MKGT ch 1
Updated:
2011-06-30 17:31:20
Tags:
creating customer relationships
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Description:
mkgt ch 1
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  1. Marketing focuses on ____ & _____ customer needs.
    discovering, satisfying
  2. What is Marketing?
    the activity of creating, communicating, delivering & exchanging offerings to benefit org, stakeholders & society at large.
  3. 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
  4. An organization can't satisy the needs of all consumers, so it must focus on one or more subgroups, which are its ________.
    target market
  5. What are the 4 marketing mix elements that make up the organization's marketing program?
    product, price, promotion & place
  6. What are environmental forces?
    Those that the organization markeing department can't contorl. Includes social, economic, technological, competitive & regulatory forces
  7. What are the two key characteristics of marketing concept?
    • 1. strive to satisfy customer needs
    • 2. try to acheive organization goals
  8. 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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