MKT 300 Study Guide - Midterm Guide: Overproduction, Garage Sale, Business Marketing
Document Summary
Process of planning and executing that involves the conception, pricing, promotion and distribution of products to create exchanges. Purpose is to facilitate exchange to bring buyers and sellers together to make it easier for the exchange to take place. If we build it, they will come : america wants the best product for its value. Trying to develop a product that sells itself. Relationship marketing philosophy: relationship marketing concept, network marketing, consumer relationship marketing. 360 degree view of serving customers: longer term orientation. Not just one transaction but whats the lifetime value of that constumer. Marketing as an exchange process: buying: seeking and evaluating alternatives, selling: promotion of alternatives to consumers, transporting: movement of a good/service, storing: holding of a good/service, financing: facilitation exchange, risktaking: holding title. Selling for less than you paid for: standardizing and grading: sorting by size and quality, information acquisition and provision: understanding markets. Marketing activities utility cration exchanges that satisfy individual organizational.
