B A 370 Chapter Notes - Chapter 1: Voice Of The Customer, Marketing Mix, Marketing Plan
Document Summary
Marketing - activity, set of institutions, and the prowesses for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing plan - specifies the marketing activities for a specific period of time. Marketing is about satisfying customer needs and wants. Can be segmented or divided into groups of people who are pertinent to an organization for particular reasons. Exchange - trade of tings of value between the buyer and the seller so that each is better off as a result. Marketing creates value through product, price, place, and promotion decisions. Marketing mix - divided into a set of four interrelated decisions and consequent actions. Four p"s - product, price, place, and promotion. Controllable set of decisions or activities that the firm uses to respond to the wants of its target markets.
