MKT 3401 : MKT 3401 Exam 1
Document Summary
Marketing is : a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction, an organizational activity, set of institutions, and processes. Exchange: conditions for an exchange , at least 2 parties, something of value, communication and delivery, freedom to accept or reject, desire to deal with other party. Achieving a marketing orientation: obtain information about customers, competitors, and markets, examine the information from a total business perspective, determine how to deliver superior customer value, implement actions to provide value to customers. Comparing the sales and marketing orientations: 5 characteristics, organization"s focus, firm"s business, those to whom the product is directed, firm"s primary goal, tools used to achieve the organization"s goals. Defining a firm"s business: sales orientation goods & services, market orientation benefits that customers seek. Knowing the firm"s business: ensures a customer focus, encourages innovation and creativity, stimulates an awareness of changes in customer preferences. 2015 by cengage learning inc. all rights reserved.
