MARK 3000 Study Guide - Quiz Guide: Competitive Advantage, Target Market, Boston Consulting Group
4 Apr 2017
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Marketing-the activity, set of institutions, and processes for creating, capturing, communication, delivering, and exchanging offerings that have value for customers/clients/partners/society at large. Bad marketing is the quickest way to tank a company. What are you offering and how people understand what it is. Delivers value to consumers-producing and communication value. How we combine the 4 p"s to communicate value. Good marketing research- foundation of decisions-understanding consumer and anticipating their needs and wants. Marketing is about satisfying consumer needs and wants- Understanding the marketplace, especially the consumer needs and wants, is fundamental to marketing success. Although marketers would like to sell products and services to everyone, it is not practical. Consumer relationships-understand, maintain, and build relationships trust! Exchange- the trade of things of value between buyer and seller so that each is better off as a result. Companies use valuable information you provide to facilitate future exchanges and solidify its relationship with you.
