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CH1 Marketing 116
Marketing 116
Question | Answer |
---|---|
What is Marketing | the activity, set of institutions and processes for creating, communication, delivering and exchanging offerings that have value for customers clients parnters and society at large |
exhange | people giving up one thing to recieve another |
Produciton Orientation | A philoshpy that focuses on the internal capabilites of the firm rathe than the desires and needs of teh marketplace |
Sales Orientation | The idea that people will buy more goods or services inf aggresice sales techniques are used and that high sales results in high profits |
Marketing CONCEPT | the idea that the social econmic justfication for an oprganizaitons existences is the satsifaciton of customers wants and needs while meeting organizaitonal objectives. |
Market Orientation | a philoschy thta involves obtaining inforamtion about customer competiors and markets examing that information from a total business perspecive , determining how to deliver supier customer calue and implementing actions to providing value to cusomters |
Societal Marketing orientation | the idea that an orgainzations exist not only to satisfy customers wants and needs and to meet orgianzation objectives but also to perserve or enhance individuals and societys long term best interests |
Customer Value | the realtionsihp between benefits and the sacrifice necessary to obtain those benefits |
Customer Satisfaction | Customers evaluation of a good or service in terms of whether it has met there needs and expectations |
Relationship marketing | a strategy that focuses on keeping and improving relationships with current customers |
Empowerment | Delegation of authority to solve customers problems quickly-usually by the first person that the customer notifies regarding a problem |
Teamwork | Collaborative efforts of people to accomplish common objectives |