BU354 Chapter Notes - Chapter 1: Customer Relationship Management, Pro Forma, Sales Promotion
Document Summary
Marketing a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Need a person feeling physiologically deprived of basic necessities, such as food, clothing, shelter and safety. Want the particular way in which a person chooses to satisfy a need, which is shaped by a person"s knowledge, culture, and personality. Target market the customer segment or group to whom the firm is interested in selling its products and services; potential customers who have both an interest in the product or service and an ability to buy. The controllable set of activities that a firm uses to respond to the wants of its target markets. Product creating value product/service, brand, size, quality, features, packaging, warranty. Price transacting value list price, discounts, allowances, costs, payment period, credit terms. Promotion communicating value advertising, sales promotion, personal selling, public relations. Place delivering value marketing channels, distribution intensity, location (retailers, online)
