MKT 300 Study Guide - Midterm Guide: Marketing Mix, Marketing, Target Market
Document Summary
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. Customer orientation an organizational philosophy that focuses on satisfying consumer needs and wants. Strong marketers compete and measure success by the way their customers judge them. Effectiveness how well an organizations activites produce results that matter to consumers (doing the right things) Efficiency the ability of an organization to execute activities with minimal waste of time and money (how well you do something) Agility the flexibility and speed with which organizations can identify or create new wants and take action to satisfy them ( how quick we change) Market all the individuals and organizations with the desire or potential to have the desire and the ability to acquire a particular good or service. Macro marketing viewing marketing from a societal point of view (big picture)
