MKTG 320 Chapter Notes - Chapter 1: Market Segmentation, Achievement Orientation, Goal Orientation
Document Summary
Marketing: the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and org objectives. Marketing concept: a bness philo based on consumer orientation, goal orientation, and systems orientation. Consumer orientation: the identification of and focus on the other people or firms most likely to buy a product and the production of a good or service that will meet their needs most effectively. Goal orientation: a focus on the accomplishment of corporate goals, a limit set on consumer orientation. Systems orientations: the creation of systems to monitor the external environment and deliver the desired marketing mix to the target market. Marketing mix: the unique blend of product/service, pricing, promotion, and distribution strategies designed to meet the needs of a specific target market. Marketing research: the planning collections, and analysis of data relevant to marketing decision making and the communication of the results of this analysis to management.
