BUS 346 Chapter Notes - Chapter 1: Retail, Pro Forma, Marketing Strategy
Document Summary
Marketing is about satisfying customer needs and wants: marketplace can be segmented or divided into groups of people who are pertinent to an organization for particular reasons, marketing strategy that targets group. Information such as reviews and other means of spreading information about product to others. Marketing: chapter 1: services: any intangible offering that involves a deed, performance, or effort that cannot be physically possessed; intangible customer benefits that are produced by people or machines and cannot be separated from the producer. Marketing affects various stakeholders: marketing can affect other partners in the supply chain (wholesalers, retailers, transportation, warehousing, etc. , can also benefit an entire industry or society, messages that have to do with things other than just selling product. How do marketing firms become more value driven: focus on four activities, share information about their customers and competitors, balance their customers" benefits an costs, concentrate on building relationships with customers, take advantage of new technologies.
