MK 201 Lecture Notes - Lecture 1: Marketing Mix, Customer Relationship Management, Relationship Marketing
Document Summary
Lesson 1: creating customer relationships and value through marketing. Lo 1-1: define marketing and identify the diverse factors influencing marketing activities. Marketing is defined as the activity for creating, communicating, delivering and exchanging offering that benefit its customers, the organization, its stakeholders and society at large. Marketing focuses on discovering the needs and wants of prospective customers and satisfying them. consumers" needs. Exchange is defined as the trade of things of value between the buyer and the seller so that each is better off. Lo 1-2: explain how marketing discovers and satisfies consumer needs. A market is defined as people with both the desire and ability to buy a specific offering. A target market is one or more specific groups of potential customers toward which an organization directs its marketing program. A market is all the potential customers in which a business could sell to.
