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Marketing Ch1
| Question | Answer |
|---|---|
| marketing | The process fir creating, communicating, delivering and exchanging offerings that benefit customers, clients, partners, and society |
| market/target market | people with both desire and ability to purchase specific offering |
| 4 P's/marketing mix | Product, Price, Promotion, Place |
| customer value | combo of benefits received by the target buyers that includes quality, convenience, timeliness and before/after sale |
| relationship marketing | links the organization to individual customers, employers, suppliers, and other partners for mutual benefit |
| marketing program | a plan that integrates the marketing mix to provide good prospects |
| marketing segments | prospective buyers who have common needs and respond similarly |
| customer relationship management (CRM) | process of identifying prospective buyers and understanding them intimately |
| societal marketing concept | the view that organizations should satisfy customer needs in a way that also provides for the well being of society |
| consumer | an individual or household that purchases goods and services for personal, family, or household use |
| organization buyer | personal, family, or household use, while an organizational buyer is an individual or team that procures goods and services on behalf of a business, institution, or government agency for commercial use, resale, or internal operations |
Created by:
siengabb