MKTG 341 Study Guide - Midterm Guide: Marketing Strategy, Sustainable Procurement, Trade Regulation
3 Oct 2018
School
Department
Course
Professor
Document Summary
Marketing seeks to: discover needs and wants of customers, need = necessary, want = something you would like to have, satisfy those needs. Exchange: trading things of value so that each is better off. Consumers may not know or cannot describe what they need or want. A desire and ability to be satisfied. A way for the parties to communicate. Market: people with both the desire and ability to buy a specific offering. Target market: one + specific groups of potential customers toward which an organization directs a marketing program (cid:1008) p"s: marketi(cid:374)g mi(cid:454) fa(cid:272)tors (controllable factors) The unique combination of benefits received by a buyer at a specific price. Value = words what you give up. Value = benefits cost (not just price) Crm: wants a relationship, identify unmet needs and satisfy them, lo(cid:455)al (cid:272)usto(cid:373)ers do(cid:374)"t look for deals, (cid:449)ill (cid:271)ri(cid:374)g (cid:455)ou (cid:373)ore (cid:272)usto(cid:373)ers.
