|marketing ||An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organizers and stakeholders
|relationship marketing ||Aims to build mutually satisfying long-term relationships with key constituents in order to earn and retain their business. |
|integrated marketing ||requires the marketer to devise marketing activities and assemble fully integrated marketing programs that create, communicate, and deliver value for customers.
4 Ps |
|marketing management ||The art and science of choosing target markets and getting, keeping, and growing customers through creating delivering, and communicating superior customer value.
|segment markets ||1. need market
2. product markets
3. demographic markets
4. geographic markets
|marketer ||someone who seeks a response from another party called a prospect.
|CMO- chief marketing officer
What do they do? ||1. strengthen a brand
2. measure marketing effectiveness
3. use consumer needs to drive product development.
4. gather meaningful customer insights.
5. leverage new marketing technology.
|marketing process ||1. analyze marketing opportunities
2. select target markets
3. design marketing strategies.
4. develop marketing programs
5. manage the marketing effort. |
|segmentation ||identify and profile distinct groups of buyers examining demographics.
|target markets ||segments presenting the greatest opportunity|
|positioning ||what the offering means in the minds of the target buyers as delivering some central benefit(s) |
|value proposition ||a set of benefits to satisfy customer's needs. |
|value ||the sum of the perceived tangible and intangible benefits and costs to customers.
ex= customer value triad--> Quality, Service, Price
|satisfaction ||a person's comparative judgment of a products perceived performance (or outcome) in relation to expectation. |
|communication channels ||deliver and receive messages from target markets. |
|distribution channels ||display, sell, or deliver the physical product or service to the buyer or user. |
|service channels ||carry out transactions with potential buyers. |
|production concept ||premise-consumer's prefer products that are widely available and inexpensive.
-high production efficiency
|product concept ||premise- consumers favor products offering the most quality, performance, or innovative features.
-making superior products
-improving them over time
|integrated marketing ||requires the marketer to devise marketing activities and assemble fully integrated marketing programs that create, communicate, and deliver value for customers. |