MKT 3401 : Exam 1
Document Summary
Marketing has 2 facets: a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction, an organizational activity, set of institutions, and processes. Marketing the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing entails processes that focus on delivering value and benefits to customers, not just selling goods and services. Exchange may not take place even if conditions are met. All 5 conditions are necessary to for an exchange to exist. Marketing occurs even if exchange does not take place. Strategic planning the managerial process of creating and maintaining a fit between the organization"s objectives and resources and the evolving market opportunities. The goal of strategic planning is long-term profitability and growth. Planning the process of anticipating future events and determining strategies to achieve organizational objectives in the future.
