MKTG 360 Lecture Notes - Lecture 4: Marketing Mix, Customer Relationship Management, Relationship Marketing
Customers
The purchaser of organizations product, the focal point of all marketing activities
target market
A specific group of customers on whom an organization focuses its marketing efforts
marketing mix
Four marketing variables - product, pricing, distribution and promotion - that a firm controls to meet the
needs of customers within its target market
product
A good, a service, or an idea
value
Customer's subjective assessment of benefits relative to cost in determining the worth of a product
exchanges
Provision or transfer of goods, services, or ideas in return for something of value
stakeholders
Constituents who have a stake in some aspect of a company's product, operations, markets, industry
and outcomes
marketing environment
The competitive, economic, political, legal and regulatory, technological and socio-cultural forces that
surround the customer and affect the marketing mix.
marketing orientation
An organization wide commitment to researching and responding to customer needs.
marketing concept
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Document Summary
The purchaser of organizations product, the focal point of all marketing activities target market. A specific group of customers on whom an organization focuses its marketing efforts marketing mix. Four marketing variables - product, pricing, distribution and promotion - that a firm controls to meet the needs of customers within its target market product. A good, a service, or an idea value. Customer"s subjective assessment of benefits relative to cost in determining the worth of a product exchanges. Provision or transfer of goods, services, or ideas in return for something of value stakeholders. Constituents who have a stake in some aspect of a company"s product, operations, markets, industry and outcomes marketing environment. The competitive, economic, political, legal and regulatory, technological and socio-cultural forces that surround the customer and affect the marketing mix. marketing orientation. An organization wide commitment to researching and responding to customer needs. marketing concept.
