MARK20100 Chapter Notes - Chapter 1: Direct Energy, Capacity Utilization, Customer Relationship Management
Document Summary
Marketing management leading and managing the facets of marketing to improve individual, unit, and organizational performance. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing"s stakeholders: any person or entity inside or outside a firm with whom marketing interacts, impacts, and is impacted by. Societal marketing the concept that, at the broadest level, members of society at large can be viewed as a stakeholder for marketing. Sustainability business practices that meet humanity"s needs without harming future generations. Value a ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits. Exchange a person gives up something of value to them for something else they desire to have, usually facilitated by money but also barter, 5 conditions must be present: There must be at least two parties.
