COMM 299 Study Guide - Final Guide: Marketing Plan, Internal Communications, Consumer Behaviour
10 Jan 2017
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Document Summary
What is marketing: the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and service to create exchanges that satisfy individual and organizational objectives, fundamentally about exchanges. Can also think of marketing as: a process that involves planning and implementing the conception, pricing, promotion and distribution or goods, services, ideas, experiences, or persons to create exchanges that satisfy individual needs or desires and/or organizational goals. Efficiency of production and distribution: selling orientation. Why they buy, matching needs to products, sophisticated promotions. Profits based on increasing sales: marketing orientation. Focus on customer satisfaction and retention: socially responsible marketing orientation. Purpose of target marketing: can achieve high efficiency and success if they concentrate on one key groups o consumers with similar characteristics. Customers who have been pushed into buying will like it, but if they don"t dissatisfaction is temporary. Steps in target marketing: asses customer needs, identify target markets, develop strategic marketing plan, evaluate results.
