MARK 302 Chapter Notes - Chapter 1: Marketing Mix, Market Segmentation, Achievement Orientation
17 Oct 2016
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1) the role of marketing research in management decision-making. Marketing - process of planning and executing conception/pricing/promotion/ distribution of ideas/goods/services to create exchanges that satisfy individual and organizational objectives. Marketing managers attempt to start e(cid:296)changes b(cid:297) follo(cid:291)ing (cid:617)right principle(cid:618) trying to get right goods/services to right people at right place at right time at right price using right promo techniques. Marketing research is primary channel for providing info that mgmt needs for making (cid:617)right(cid:618) decisions. Marketing concept - business philosophy based on: consumer orientation - identification of and focus on people or firms most. Production of good/service that will meet needs most likely to buy product effectively in the face of competition: goal orientation - focus on accomplishment of corporate goals. Limit set on consumer orientation: systems orientation - creation of systems to monitor external environment and deliver desired marketing mix to target market. Systems must be made to find out buyer wants and to identify market opportunities.
