MKT 300 Lecture Notes - Lecture 1: Marketing, Marketing Intelligence, Customer Satisfaction
Document Summary
Define marketing: marketing process of creating, pricing, distributing, and promoting goods, services, and ideas to: Develop and maintain favorable relationships with stakeholders in a dynamic environment. Marketing focuses on customers: customers the pur(cid:272)hasers of orga(cid:374)izatio(cid:374)s" produ(cid:272)ts; the fo(cid:272)al poi(cid:374)t of all (cid:373)arketi(cid:374)g activities, target market a specific group of customers on whom an organization focuses its marketing efforts. The marketing mix: four marketing variables, developed and controlled by the firm, objective: meet the needs of customers within its target market, product, pricing, distribution (place, promotion. Product: a good, service, or an idea, goods. Issues: deals (cid:449)ith resear(cid:272)hi(cid:374)g (cid:272)usto(cid:373)ers" (cid:374)eeds a(cid:374)d (cid:449)a(cid:374)ts a(cid:374)d desig(cid:374)i(cid:374)g a produ(cid:272)t that satisfies them. Distribution (place: ensuring availability of products in desired quantities to maximum number of target market customers possible, aims to keep costs low for: Promotion: activities used to inform and persuade to create a desired response, purpose. Increase public awareness of organization and its products.
