MGMA01H3 Study Guide - Midterm Guide: Swot Analysis, Social Class, Psychographic
Document Summary
Late 1950s: 4 p"s and the marketing mix. Organization marketing mix: discover consumer needs, information about people"s needs, the market (customers) The 4 p"s of marketing: product, place, price, promotion. Forces acting on the ps: economic, social. Marketing: marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual; and organizational objectives. Marketer"s tasks: discover consumer needs/wants, satisfy consumers needs/wants, opportunities (uncontrollable, consumer, competition, company, analyze (stp"s, segmenting, targeting, positioning, implement (controllable, product, place, promotion, price. Marketing concept: customer orientation, organizations performance objectives, coordinated marketing activities. Marketing evolution: product orientation, sales orientation, marketing orientation, relationship. Consumer behaviour: the study of human consumption, which entails the acquisition, usage, and disposition of goods, services, and ideas. Marketing concept: key to achieving goals consists in determining the needs and wants of the target and delivering the desire effectively compared to competition.
