MKT 3790 Lecture Notes - Lecture 1: Marketing Effectiveness, Crowdsourcing, Marketing Mix
Document Summary
What is marketing: marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, client, partners, and society at large. Modern marketing: holds that firms should collaborate with and learn consumers: crowdsourcing: a common contemporary practice. Marketing concept: is a business philosophy that holds that the key to achieving organizational goals consists of the company"s being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets. Marketing research: the process of designing, gathering, analyzing, and reporting info that may be used to solve a specific marketing problem. Marketing research function: marketing research links: the consumer to the marketer by providing info that can be used in making marketing decisions. Uses of marketing research: identify marketing opportunities & problems, generate, refine, and evaluate potential marketing actions, monitor marketing performance.
