MGMT 1 Chapter Notes - Chapter 13: Marketing Mix, Target Market, Psychographic
21 Jul 2016
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Document Summary
Marketing 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 concept a three-part business philosophy: 1) a customer orientation, 2) a service orientation, and 3) a profit orientation. Customer relationship management (crm) the 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. Marketing mix the ingredients that go into a marketing program: product, price, place, and promotion. Product any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand. Test marketing the process of testing products among potential users. Brand name a word, letter, or group of words or letters that differentiates one seller"s goods and services from those of competitors.
