UNIT 1 FUNDAMENTALS OF MARKETING MODULE - 1 Fundamentals of Marketing UNIT 1 FUNDAMENTALS OF MARKETING NOTES Structure 1.0 Introduction 1.1 Unit Objectives 1.2 Marketing Concept and Orientation 1.2.1 1.2.2 1.2.3 1.2.4 1.2.5 1.2.6 1.3.1 1.3.2 1.3.3 1.3.4 Marketing Concept Marketing Concept versus Production Concept Limitations of the Marketing Concept Marketing Orientation Profile of Marketing Oriented Organizations Marketing Orientation and Business Performance Segmentation‚ Targeting and
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1 The Concept of Modern Marketing Learning Objectives By the end of this chapter‚ you should be able to: focus • Define marketing. • Specify the three basic propositions of the marketing concept. • Name and describe the four components of the marketing mix. • List the five major environmental forces that affect marketing. An exciting‚ dynamic discipline‚ marketing affects our daily lives in many ways. We are all consumers‚ and many people are part of the marketing process—as salespeople‚ advertising
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ENGINEERING MATHEMATICS Linear Algebra: Matrix algebra‚ Systems of linear equations‚ Eigen values and eigen vectors. Calculus: Functions of single variable‚ Limit‚ continuity and differentiability‚ Mean value theorems‚ Evaluation of definite and improper integrals‚ Partial derivatives‚ Total derivative‚ Maxima and minima‚ Gradient‚ Divergence and Curl‚ Vector identities‚ Directional derivatives‚ Line‚ Surface and Volume integrals‚ Stokes‚ Gauss and Green’s theorems. Differential equations: First
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Equations of State (EoS) Equations of State • From molecular considerations‚ identify which intermolecular interactions are significant (including estimating relative strengths of dipole moments‚ polarizability‚ etc.) • Apply simple rules for calculating P‚ v‚ or T ◦ Calculate P‚ v‚ or T from non-ideal equations of state (cubic equations‚ the virial equation‚ compressibility charts‚ and ThermoSolver) ◦ Apply the Rackett equation‚ the thermal expansion coefficient‚ and the isothermal compressibility
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defined as a vibration of a system in which some particular points remain fixed while others between them vibrate with the maximum amplitude. Standing waves have different frequencies called harmonics. The lowest standing wave frequency is called the fundamental or first harmonic. For this‚ all parts of the string vibrate together‚ up and down and the ends of the string are fixed in place but are not free to move. We call these positions nodes. A node is a point on the string that does not move. The amplitude
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CHAPTER 1 & 2 * What is marketing? Marketing is an organizational function and a set of processes for creating‚ communicating‚ and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. * What is the marketing process? * Needs‚ wants and demands Needs : basic human requirements Wants: the needs becomes wants when they are directed to a specific objects and might satisfy the need Demands: are wants for
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has its unique identity. Marketing execute a vital role in achieving the ultimate goal of business organization-profit maximization. Different companies follow different strategies and concepts of marketing according to their selected target market and customer. Marketing has to face innumerable challenges in its way of work. In this report‚ we have tried to cover the different strategies or concepts followed by different companies or industries in Bangladesh‚ marketing challenges in Bangladesh
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Discussing the Concepts 1. Define marketing and discuss how it is more than just “telling and selling”. Marketing is managing profitable customer relationships. The two fold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. The old sense of making a sale is telling and selling‚ but in new sense it is satisfying customer needs. Selling occurs only after a
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Fundamental Concepts of Industrial and Organizational Psychology Jessica Lindsay University of Phoenix PSY 435 Facilitator: Gary Mayhew‚ Ed. D. July 26‚ 2011 Fundamental Concepts of Industrial and Organizational Psychology Industrial and Organizational (I/O) psychology is a field of psychology that “involves the scientific study of the human side of organizations and includes the application of the principles and findings of the research” (Spector‚ 2008‚ p. 4). This field consists of research
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1. What are the essential characteristics of a marketing-oriented company? Marketing oriented companies focus on customer needs and get close to their customers so that they understand their needs and problems. In the past‚ the Traditional Marketing Concept was achieved their profit and other objectives by satisfying customers but it neglects the competition. But now‚ the Modern Marketing Concept it achieve the corporate goals through meeting and exceeding customer needs and expectations better
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