MGMT 1 Chapter Notes - Chapter 13: Test Market, Marketing Mix, Target Market
Document Summary
Marketing: 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 concept: three-part business philosophy: customer orientation, service orientation, profit orientation. Customer relationship: customer relationship management (crm): process of learning as much as possible about customers and doing everything you can to satisfy them or even exceed their expectations with goods and services. Consumer demands rise in four areas: now, can i, for me, simple. Churches use marketing to attract new members and raise funds. Marketing mix: ingredients that go into marketing program. Target market: people you will try to persuade to come to buy your stuff. Product: any physical good, service, or idea that satisfies want or need plus anything that would enhance the product in the eyes of consumers, such as brand. Test marketing: process of testing products among potential users.
