MARK205 Lecture Notes - Lecture 1: American Marketing Association, Sales Promotion, Customer Relationship Management
Document Summary
Lecture notes week 1 - intro to marketing research. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging o erings that have value for customers, clients, partners and society at large. Marketing is not random, it requires thoughtful planning > rms assess their market position and decide on their marketing strategy. The marketing concept is a business philosophy that holds the key to achieving organisational goals consists of the company being more e ective than competitors in creating, delivering and communicating customer value to its chosen target markets. This means that customer satisfaction is the major focus of the marketing concept > relationship marketing. A managerial philosophy that an organisation should try to provide products that satisfy customers needs through a coordinated set of activities that also allows the organisation to achieve its goals. This means that the product creates value, the price captures value, the place delivers value and the promotion communicates value.
