Summary
Summary An Overview on Marketing
- Course
- Institution
- Book
A brief summary on the overview of Marketing or an introduction to marketing
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Segmenting and targeting markets
-
Understanding consumer decision making
-
Positioning the Firm and its Products
Seller
Follow
rozziedenisse
Content preview
STUDY NOTESWeek 1 – Study unit 1 – An overview of Marketing
1. Introduction: Most people think that marketing is about selling, advertising or promoting
something, as much as these are some of the activities required in marketing, the field itself
is quite broad. Successful companies don’t only focus on those factors but also focus on their
customers and ensuring the satisfaction of these customers. We have the marketing mix
which is the 4Ps and the extended marketing mix which is the 7Ps that assist companies in
developing marketing strategies and plans.
2. Outcomes:
Define the term marketing
Explain the nature of customer satisfaction
Explain the concept of exchange in marketing terms
Describe the 6 marketing management philosophies
Describe the marketing process
Describe the importance of competitive advantage
Briefly review the roles of marketing in the firm
3. Notes:
WHAT IS MARKETING?
Marketing is the study and management of exchange relationships. It is the business process of
identifying, anticipating and satisfying customers' needs and wants. According to the American
Marketing Association, marketing is the process of planning and executing the conception, pricing,
promoting and distribution of ideas, goods and services, to create exchanges that satisfy individual
and organisational objectives.
CUSTOMER SATISFACTION
Customer satisfaction is when the performance of the product or service exceeds the customers
expectations. It is the customers fulfilment resulting from comparing the performance of a product
versus their expectation of it.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller rozziedenisse. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.17. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
66579 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now