[MKTG 2800] - Final Exam Guide - Everything you need to know! (24 pages long)

• School: University of Denver
• Department: Marketing
• Course: MKTG 2800
• Professor: Young Sandra

Document Summary

Chapter 1 creating customer relationshps and value through. Marketing: the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. Discover the needs and wants of prospective customers. Exchange: the trade of things of value between a buyer and a seller so that each is better off after the trade. Needed for marketing to occur: two or more parties with unsatisfied needs, a desire and ability on their part to have their needs satisfied, a way for the parties to communicate, something to exchange. Market: people with the desire and the ability to buy a specific offering. Target market: one or more specific groups of potential consumers toward which an organization directs its marketing program. Customer value proposition: cluster of benefits that an organization promises customers to satisfy their needs. Environmental forces: social, economic, technological, competitive, and regulatory forces (uncontrollable forces)