[MK 201] - Final Exam Guide - Ultimate 35 pages long Study Guide!

• School: Quinnipiac University
• Department: Marketing
• Course: MK 201
• Professor: branchick

Document Summary

Figure 1-1 a marketing department relates to many people, organizations, and environmental forces. Figure 1-2 marketing seeks to discover consumer needs through research and then satisfy them with a marketing program. - marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society. - exchange is the trade of things of value between a buyer and a seller so that each is better off. - a market consists of people with both the desire and the ability to buy a specific offering. - a target market consists of one or more specific groups of potential consumers toward which an organization directs its marketing program. - the marketing mix consists of the marketing manager"s controllable factors product, price, promotion, and place that can be used to solve a marketing problem. Customer value proposition is the cluster of benefits that an organization promises customers to satisfy their needs.