COMMERCE 1E03 Chapter 8: Chapter 8 – Marketing.docx
7 Mar 2012
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Chapter 8 marketing: building customer and stakeholder relationships. Marketing: the process of determining customer needs and wants and then developing goods and services that meet or exceed these expectations. Green marketing: marketing efforts to produce, promote, and reclaim environmentally sensitive products. Organizations realized they needed to be responsive to consumers if they wanted their business as competition was fierce. Idea is to enhance customer satisfaction and stimulate long-term customer loyalty. Charities use marketing to raise funds or to obtain other resources. The four p s of marketing: product, price, place, promotion. Managing the controllable parts of the marketing process involves: designing a want-satisfying product, setting a price for the product, putting the product in a place where people will buy it, promoting the product. These four factors are called the marketing mix. Once you have researched consumer needs and found a target market for your product, the four ps of marketing begin.
