Exam 1 Study Guide
Purpose of marketing. To discover the needs and wants of customers an to satfisy them. Market vs. target market. Market is people with desire and ability to buy a specific offering. Target market is a specific group of poetionatial consumers toward which an organization directs its marketing program, The four P’s. price, product, promotion, place
Evolution of marketing (eras). Production era goods covers ther early tears of the united states up tell the 1920’s. goods were scare and buyers were willing to accept virtually any goods that were avaible and make do with them. the sales era from the 1920s to the 1960s, manfactures found they could produce more goods then buyers could consume. Marketing concept era is the idea that an organization should strive to stastify the needs of the consumers while also trying to achieve organization goals. Customer relationship era in which firs seel contionusly to satisfy the high exacptions of the customers. Current trends (relationship marketing, green marketing, societal marketing, etc.). the view that an oragantion should discover and satisy the needs of the consumers in a way that also provides for society well being Creating customer value. Is the unique combination of benefits received by targated buyers that includes quality, convemience, on time delivery, and both before sale and after sale service at a specific price. Chp. 2
Mission and vision statements. A statement of the organization’s function in society, of the indentifying its customer markets,products, and technologies. Company goals and objectives. Statements of an accomplishment of a task to be achived ofthen by a specific time. Product-market strategies. Marketing dashboard which is the visual display of the essential information realted to acheivng a marketing objective. A marketing metric is a mesure of quantitative value or trend of a marketing activity or result, marketing plan is a road map for...
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