COMM 299 Study Guide - Final Guide: Database Marketing, Profit Maximization, Marketing Communications
10 Apr 2017
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It"s the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to satisfy objectives. Planning and implementing conception, pricing, promotion, and distribution goods, services, ideas, experiences to satisfy needs or desires or goals. Danger: research shows that unsatisfied customers will not buy again and on average they will tell 10 others about their bad experience. Marketing orientation: focus on the consumers needs and not on selling existing products, requirements: outside-in vs. inside-out perspective, start: Inside: work backward to align the organization"s functions and resources to meet those needs better than the competitors can or do: challenge: identify customer"s needs worth meeting. Higher efficiency and success if efforts are focus on a key group of consumers that share certain characteristics. Targeted consumer groups become smaller in size= organization moves from mass marketing to individual marketing. One firms serves the entire market (no substitutes) A few large firms dominate the market.
