CITB01H3 Lecture Notes - Customer Relationship Management, Marketing Mix, Psychographic
Document Summary
Marketing: process of planning & executing the conception, pricing, promotion & distribution of ideas, goods & services to create exchanges that satisfy both buyers and sellers. Marketing concept: whole is coordinated to achieve 1 goal. Utility: ability of a product to satisfy a human want or need. Consumer goods: products purchased by individuals for their personal use. Industrial goods: products purchased by companies to use directly or indirectly to produce other products. Services: intangible products, such as time, expertise, or an activity that can be purchased. Marketing managers: responsible for planning & implementing all the marketing mix activities that result in the transfer of goods or services to customer. Marketing plan: detailed & focussed strategy for gearing the marketing activities to meet consumer needs and wants. Marketing mix: product, price, place and promotion strategies used in marketing a product.
