MKTG 350 Study Guide - Midterm Guide: Operational Excellence, Target Market, Clayton Antitrust Act
20 Jun 2016
Department
Course
Professor
Document Summary
Marketing definition: the activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Core aspects of marketing (exchange, product/service, businesses/individuals, etc. : helps create value, satisfying customer needs and wants, entails an exchange. B2b, b2c, for-profit, not-for-profit, etc: individuals and organizations can perform marketing, b2b= company sells to another business, b2c= company sells to consumers, c2c= consumers market to each other (e. g. ebay) Market components of: market= group of customers with common problems to solve or needs to satisfy, have both the authority and ability to buy. Supply chain management: supply chain= group of firms that make and deliver a given set of goods/services, supply chain management= all activities necessary to get the product to the customer. Value: value= the give for the get, how much you pay along with what you get from it, reflects the relationship of benefits to costs.
