Class notes
Marketing: Chapter 1 Definition _ Midterm Helpful
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- BAMA 550
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- University Of British Columbia (UBC )
I have taken the Class Notes from chapter 1 Marketing definition, which are helpful in Midterm exam
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MarketingNotes
Chap 1
Marketing: Customer Value,
Satisfaction, Relationships,
and Experiences
, Marketing
Marketing is the process of planning and executing the conception, pricing, promotion, and
distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational objectives.
Market
A market is people with the desire and with the ability to buy a specific product.
Environmental Forces
Environmental forces are the uncontrollable factors involving social, economic, technological,
competitive, and regulatory forces.
Target Market
One or more specific groups of potential customers toward which an organization directs its
marketing program.
Marketing mix
The marketing mix is product, price, promotion, and place.
Customer Value
Customer value is the unique combination of benefits received by targeted buyers that includes
quality, price, convenience, on-timer delivery and both before-sale and after-sale service
Marketing Program
The marketing program is a plan that integrates the marketing mix to provide a good, service,
or idea to prospective buyers
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