CHAPTER 1- OVERVIEW OF MARKETING 1. Marketing – social and management process where individuals or groups acquire their needs and wants by creating value and exchanging it among themselves. 2. Marketing Process : * Understand the marketplace and customers needs and wants. * Design a customer-driven marketing strategy. * Construct an integrated Marketing program that delivers Superior value. * Product * Promotion * Price * Place * Build profitable relationships
Premium Marketing
Signature: _______________ Date: / / Marketing Assignment Task 1. Ac 1.1. Explain the various elements of the marketing process (1) Provide at least two definitions of marketing and explain in your own words Marketing: a; Marketing includes research‚ targeting‚ communications (advertising and direct mails) and public relations. It is the process by which a firm profitably translates costumers needs into revenue. b; Marketing is helping people buy your product or service. It
Premium Marketing Coffee Starbucks
3.1 Explain how products are developed to sustain competitive advantage 3.1.1 Packaging Elements | Competitive advantages | Physical Protection28 gram package‚ reduction of 8gr per bottle | Reduce price per bottle‚ make more attractiveness for the product. | DistributionDirect to retailers | More convenient for customers. | SellingProvide ingredient in each bottle such as: Number of calories‚ % of carbohydrate‚ vitamins‚ and minerals. | Customer understands about Gatorade ingredients
Premium Marketing Pricing Customer service
Licensed to: iChapters User PRINCIPLES OF MICROECONOMICS: A G U I D E D T O U R PART ONE: INTRODUCTION Chapter 1 Chapter 2 Chapter 3 Ten Principles of Economics Thinking Like an Economist Interdependence and the Gains from Trade The study of economics is guided by a few big ideas. Economists view the world as both scientists and policymakers. The theory of comparative advantage explains how people benefit from economic interdependence. PART TWO: SUPPLY AND DEMAND I: HOW MARKETS
Premium Supply and demand
1. The need being met by JetBlue is mainly transportation. In today’s world consumers need to be able to travel long-distances quickly and JetBlue’s practices ensure customer comfort/satisfaction along the journey. The wants of JetBlue’s customers are to safely and quickly travel on an airplane. They also want to be comfortable and treated well. JetBlue accomplishes this by providing leather seats and entertainment with great customer service. The demands of this airline’s customers are pretty
Premium Customer service Southwest Airlines Customer
Economic Principle | Marketing Principle | Form Utility | | | | | | | | | | Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good. Utility may measure how much one enjoys a movie‚ or the sense of security one gets from buying a deadbolt. The utility of any object or circumstance can be considered. Some examples include the utility from eating an apple‚ from living in a certain house‚ from voting for a specific candidate
Premium Economics Time
Marketing as selling has two main concepts‚ which are making profit much as possible and satisfying customer’s need. Before making any profit. A well-managed company is able to identify and specify itself. That includes making targets for its ideal customer. Analysis and strategies help the company in achieving a higher possibility for success in the business. Segmentation methods Segmentation involves diving a broad target market into subset of consumers who have common needs and priorities. A
Premium Maslow's hierarchy of needs Marketing
SYNOPSIS This case illustrates the success that JetBlue Airline has achieved since founded in 1999‚ though it had trouble in 2007 during Valentine´s day and a few more‚ it managed to overcome the issue and become one of the most known companies for excellent customer service. The author mentions that JetBlue truly cares about the customer because JetBlue doesn´t sell just airplane tickets and its customers neither seek for airplanes tickets when buying at JetBlue. They buy the whole experience in which each
Premium Low-cost carrier Southwest Airlines Airline
JETBLUE AIRLINES OCTOBER 2006 JetBlue started their business in a positive approach‚ by ensuring the main elements were in place prior to starting operations. Compared to JetBlue ’s counterparts that started up their airlines in the 1980 ’s and 1990 ’s‚ JetBlue began with a highly experienced senior management team‚ dedicated core values‚ and plenty of capital to ride out the low times. JetBlue ’s strengths and opportunities compared to the industry are: Strength & Opportunities:
Premium John F. Kennedy International Airport Lufthansa
Course Principles of Marketing Test Week 2 Quiz 1 Started 1/18/14 2:32 PM Submitted 1/18/14 3:19 PM Status Completed Attempt Score 21 out of 30 points Time Elapsed 47 minutes out of 1 hour. Instructions This quiz consist of 10 multiple choice questions and covers the material in Chapter 1. Be sure you are in Chapter 1 when you take the quiz. Question 1 3 out of 3 points Correct Customer relationship management (CRM) begins its focus on customers with Answer Selected Answer:
Premium Marketing Customer relationship management Customer service