COMM 296 Study Guide - Midterm Guide: False Advertising, Customer Retention, Greenwashing
Document Summary
Set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in a way that benefits the organization and shareholders. Marketing is all about satisfying customer needs and wants: You must know the consumer base you are targeting. Marketers are interested in finding the buyers who are most likely to be interested in their offerings. The trade of things of value between the buyer and seller so that each is better off as a result. Marketing requires product, price, place, and promotion decisions: Customer must be satisfied with their purchase while sellers are making a reasonable profit: place: delivering the value proposition, all the activities necessary to get the product to the right customer when that customer wants it (example. : expanding locations: effective supply chain management, promotion: communicating the value proposition, marketers persuades and reminds potential buyers about a product or service to influence their opinions and elicit a response.
