MGT 103 Study Guide - Midterm Guide: Triple Bottom Line, Strategic Planning, Customer Relationship Management
7 Sep 2018
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Document Summary
De nition of marketing - activity for creating, communicating, delivering, exchanging offerings that bene t its customers. Exchange - trade of value for buyers/sellers so that each is better off. Marketing concept - organization should strive to satisfy needs of consumer while trying to achieve organization"s goals. 4 eras of the marketing concept - production, sales, marketing concept, customer relation era. Triple bottom line - people, planet, and pro t. The value proposition - cluster of bene ts that an organization promises customers to satisfy their needs. Marketing mix, 4ps - product, price, place, promotion. Environmental forces - social, economic, tech, competitive, regulatory forces. Strategic planning - ongoing process of making decisions that guide the rm both in the short and long term. Three levels of planning - strategic, functional, operation. Strategic planning (3 levels of planning) - done by top level corporate management.
