MKTG 409 Chapter Notes - Chapter 1: Marketing Mix, Target Market, Customer Relationship Management
14 Feb 2018
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Marketing: process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment. Customer expects to gain a reward or benefit greater than the costs incurred in a marketing transaction. Marketer expects to gain something of value in return. Often viewed as controllable because they can be modified. 1. 2 marketing deals with products, distribution, promotion and price. Marketing mix decide what type of each variable to use and how to coordinate the variables. Primary goal of a marketing manager - create and maintain the right mix of these variables to satisfy customers" needs for a general product type. Service: application of human and mechanical efforts to people or objects to provide intangible benefits to customers. E. x. marriage counselor gives ideas to help improve relationship. Creating or modifying brand names and packaging and may include decisions regarding warranty and repair services.
