MKTG101 Study Guide - Final Guide: Pest Analysis, Ethnography, Price Fixing

• School: Macquarie University
• Department: Marketing
• Course: MKTG101
• Professor: June Buchanan

Document Summary

Marketing: activity and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. Marketing process: process that involves understanding the market to create, communicate and deliver an offering for exchange. Value: a customer"s overall assessment of the utility of an offering based on perceptions of what is received and what is given. Customers: individuals that benefit from the products of businesses or non-profit businesses. Consumers: people who use the good or service. Clients: customers" of the products of not-for-profit organisations. Partners: organisations or individuals who are involved in the activities and processes for creating, communicating and delivering offerings for exchange. Marketing concept: a customer orientation, backed up by integrated marketing activities aimed at generating customer satisfaction as the key to satisfying organisation goals. Tangibility of services: physical evidence of the service such as notes. Product orientation: the major task of an organisation is to pursue efficiency in production and distributions.