MKTG 3000 Lecture Notes - Lecture 1: Marketing, Customer Satisfaction, Disposable And Discretionary Income
9 Feb 2018
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Each party has something that might be of value to the other. Each party free to accept or reject the exchange offer. Each party believes it"s appropriate or desirable to deal with the other: marketing management philosophies. Production orientation: philosophy focused on internal capabilities of the firm rather than on the demands of the marketplace. Sales orientation: belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Marketing orientation: philosophy assuming that a sale doesn"t depend on aggressive sales force but rather on a customer"s decision to purchase a product; synonymous to marketing concept. Marketing concept: idea that social and economic justification for an org"s existence is the satisfaction of customer wants and needs while meeting org objectives. Sales tend to be inward focused, market outward focused. Customer value: relationship between benefits and sacrifice necessary to obtain those benefits.
