BUA 270 Lecture Notes - Lecture 1: Customer Relationship Management, Marketing Mix, Retail

• School: University of Maine
• Department: Business Administration
• Course: BUA 270
• Professor: Ulusoy

Document Summary

Marketing activity and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Satisfying customers" needs and wants (needs take specific direction) Entitles exchange give up something you have to receive something (2 parties) Marketing plan specifies the marketing activities for a specific period of. Product creating value (developing a variety of offerings-goods, services, & ideas-to satisfy customer needs) Price capturing value (everything the buyer gives up-money, time, & energy-in exchange for the product supply-chain management) Place delivering the value proposition (represents all the activities necessary to get the product to the right customer when that customer wants it) Promotion communicating the value proposition (informs, persuades, & reminds potential buyers about a product to influence their opinions) Employment marketing undertaking marketing research to understand what potential employees are seeking. Production-oriented era (turn of the 20th century) a good product would sell itself.