MGMA01H3 Chapter Notes -Marketing Mix, Customer Relationship Management, Marketing Myopia
Document Summary
Ch 1: marketing: creating and capturing customer value. 5 core customer & marketplace concepts: needs, wants and demands, market offerings (products, services and experiences, value and satisfaction, exchanges and relationships, markets. Wants- the form human needs take as shaped by culture and individual personality. Demands- human wants that are backed by buying power. Market offerings- some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Marketing myopia- the mistake of paying more attention to the specific products a company offers than to the. Others entities: people, places, organizations, information, ideas benefits and experiences produced by these products. Exchange- the act of obtaining a desired object from someone by offering something in return. Market- the set of all actual and potential buyers of a product or service. Core marketing activities: consumer research, product development, communication, distribution, pricing,
