MK 201 Chapter Notes - Chapter 1: Customer Relationship Management, Marketing Mix
17 Oct 2016
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Marketing is the activity for creating, communicating, delivering, and exchanging offering that benefit its customers, the organization, its stockholders, and society at large. To serve both buyers and sellers, marketing seeks: to discover the needs and wants of prospective customers, stratify them. Exchange the trade of things of value between buyer and a seller so that each is better off after the trade. Marketing department is responsible for facilitating relationships, partnerships, and alliances with the orga(cid:374)izatio(cid:374)"s custo(cid:373)ers, shareholders, its suppliers, a(cid:374)d other orga(cid:374)izatio(cid:374)s. For marketing to occur, 4 factors are required: 2 or more parties with unsatisfied needs, desire and ability on their part to have their needs satisfied, a way for the parties to communicate, something to exchange. Key to launching new customer products: focus on what the customer benefits is, learn from past mistakes. Need occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.
