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MARK 201 (29)
Chapter 1-2

MARK 201 Chapter 1-2: Chapter 1, 2 Notes
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Department
Marketing
Course
MARK 201
Professor
Steven Laing
Semester
Winter

Description
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations 1. Production concept is the idea that consumers will favor products that are available or highly affordable. 2. Product concept is the idea that consumers will favor products that offer the most quality, performance, and features. Organizations should therefore devote its energy to making continuous product improvements. 3. Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort. 4. Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do. 5. Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run int
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