MKT 340 Lecture Notes - Lecture 1: Customer Relationship Management, Pro Forma, Marketing Mix

• School: Iowa State University
• Department: Marketing
• Course: MKT 340
• Professor: Jinhyun Jun

Document Summary

Marketing - an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Exchange - the trade of things of value between the buyer and the seller so that each is better off as a result. Marketing mix (four p"s) - product, price, place, and promotion--the controllable set of activities that a firm uses to respond to the wants of its target markets. Business-to-consumer (b2c) marketing - the process in which businesses sell to consumers. Business-to-business (b2b) marketing - the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers. Consumer-to-consumer (c2c) marketing - the process in which consumers sell to other consumers.