MGMT 322 Chapter Notes - Chapter 1: Marketing, Relationship Marketing, Liquid Oxygen
Document Summary
Outline of chapter 1: an overview of marketing. Marketing includes personal selling, advertising, making products available in stores, arranging displays, and maintaining inventories of products for future sales. Marketing has 2 facets: it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction, marketing is an organization function and a set of processes used to implement this philosophy. The american marketing association"s definition of marketing focuses on the second facet. 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 understands that organizations have many connected stakeholder partners, including employees, suppliers, stockholders, distributors, and others. It"s just that exchange wouldn"t be possible without these conditions: marketing can occur even if an exchange doesn"t. Four competing philosophies strongly influence an organization"s marketing processes: production orientation.
