BIOC 3560 Lecture Notes - Lecture 1: Customer Satisfaction, Market Orientation, Customer Relationship Management
5 Nov 2017
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Document Summary
Target market: one or more specific groups of potential consumers toward which an organization directs its marketing program. Product: a good, service, or idea to satisfy the consumer"s needs. Price: what is exchanged for the product. Promotion: a means of communication between the seller and buyer. Place: a means of getting the product into the consumer"s hands. Environmental forces: the uncontrollable factors involving social, economic, technological, competitive, and regulatory forces. Marketing program: a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. Production era: goods were scarce in the early years in north america, so buyers were willing to accept virtually any goods that were produced. Sales era: many firms discovered that they could produce more goods than their regular buyers could consume. Marketing concept era: marketing became the motivating force among many firms.
