MKTG 341 Study Guide - Final Guide: Niche Market, Brand Equity, Moral Rights

• School: University of Calgary
• Department: Marketing
• Course: MKTG 341
• Professor: Daniel Sun

Document Summary

Marketing = exchanging offerings that have value for customers, clients, partners, and society at large/organizational function and set of processes that deliver value, manages customer relationships that benefit the stakeholders. Also focusses on achieving goals set by and organization to satisfy customers wants and needs. Wants = specific solution to satisfy a need shaped by experience. Demand is when wants and needs are backed up by the power and means to purchase goods and services. Market driven externally driven, focus on market orientation (customer wants & needs, interdepartmental co-operation) (e. g of not market oriented =lead paint scare w thomas the ta(cid:374)k e(cid:374)gi(cid:374)e, did(cid:374)(cid:859)t apologize or offer a(cid:374)(cid:455) refu(cid:374)ds or e(cid:454)(cid:272)ha(cid:374)ges. Societal marketing orientation not only focusing on customers wants and needs, but taking i(cid:374)to a(cid:272)(cid:272)ou(cid:374)t the (cid:272)usto(cid:373)ers a(cid:374)d so(cid:272)iet(cid:455)(cid:859)s lo(cid:374)g-term interests and benefits. The marketing process: situation analysis: analyze the micro environment 3cs.