[MARK 20100] - Midterm Exam Guide - Comprehensive Notes for the exam (22 pages long!)
Document Summary
Marketing management= leading and managing the facets of marketing to improve individual, unit, and organizational performance: core business activity. Purpose of business is to create a customer: 2 business functions: marketing and innovation. Marketing= the activity, set of institutions, and processes for creating, Value= ratio of benefits to costs a customer receives/incurs marketing interacts, impacts, and is impacted by communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing"s stakeholders= any person or entity inside/outside a firm with whom. High-pressure selling: post wwii: (cid:498)marketing concept(cid:499)- organization-wide customer orientation, mid (cid:883)96(cid:882)s: (cid:498)the marketing mix(cid:499) or (cid:498)4ps of marketing(cid:499)- product, price, place, Integrates marketing into each phase of the business (instead of just the end) Let the market decide what products to offer with the objective of achieving long-run profits promotion. Differentiation orientation- distinguishing your products from those of your competitors in minds of customers.
