MKT 300 Study Guide - Midterm Guide: Internal Communications, Relationship Marketing, Retail
Document Summary
2 paradigms: organization is center, customer is center. 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 performance = efficiency + effectiveness + agility. Set of institutions. : business-to-business (b2c) marketing, business-to-business (b2b) marketing, non profit marketing. Internal marketing when managers of one functional unit market their capabilities to other units in their own organization. *processes: management of change, innovation, developing and carrying out plan. 4p"s of marketing: product, price, promotion, place. Customer value what customers perceive they gain from owning a product when weighed against the cost. Loyalty measure of how often a customer purchases a particular brand. 6 forces shaping marketplace practice: sustainability, globally, relationships, ethics, technology, diversity. Marketing myopia a near sightedness, focusing on current products instead of how the products benefit customers.
