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.

requires the marketer to devise marketing activities and assemble fully integrated marketing programs that create, communicate, and deliver value for customers. 4 Ps

The art and science of choosing target markets and getting, keeping, and growing customers through creating delivering, and communicating superior customer value.

1. need market 2. product markets 3. demographic markets 4. geographic markets 5. other

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.

1. analyze marketing opportunities 2. select target markets 3. design marketing strategies. 4. develop marketing programs 5. manage the marketing effort.

identify and profile distinct groups of buyers examining demographics.

segments presenting the greatest opportunity

what the offering means in the minds of the target buyers as delivering some central benefit(s)

a set of benefits to satisfy customer's needs.

the sum of the perceived tangible and intangible benefits and costs to customers. ex= customer value triad--> Quality, Service, Price QPS

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.

carry out transactions with potential buyers.

premise-consumer's prefer products that are widely available and inexpensive. focus on: -high production efficiency -low costs -mass distribution

premise- consumers favor products offering the most quality, performance, or innovative features. focus on: -making superior products -improving them over time

requires the marketer to devise marketing activities and assemble fully integrated marketing programs that create, communicate, and deliver value for customers.

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marketing ch.1

marketing

Question	Answer
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 5. other
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 QPS
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. focus on: -high production efficiency -low costs -mass distribution
product concept	premise- consumers favor products offering the most quality, performance, or innovative features. focus on: -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.
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Created by: hmirza

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