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Principles of marketing (MAR1) Samenvatting Tentamen 1 (midterm)
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All chapters for the first midterm exam of principles of marketing summarized. All important terms for the exam have been described.
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Principles of marketing (MAR1) Samenvatting Tentamen 2 (final exam)
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Chapter 1 Marketing, planning and strategyThe value of marketing
Consultant → manages and develops relationships with advertisers and their creative and
media agencies. Showing the powers of its advertising solutions to clients.
Marketing →
- The management process responsible for identifying anticipating and satisfying
customer requirements profitably.
- Marketing is the social process by which individuals and organizations obtain what
they need and what through creating and exchanging value with others.
- Marketing is all about delivering value to everyone who is affected by transaction.
- The strategic business function that creates value by stimulating, facilitating and
fulfilling customer demand.
- Building brands, nurturing innovation, developing relationships, creating good
customer service and communicating benefits.
- Brings positive returns on investment, satisfies shareholders and stakeholders from
business and community and contributes to positive behavioral change and a
sustainable business future.
Metric → a measuring system that quantifies a trend, dynamic or characteristic. Used to
explain phenomena, diagnose causes, share findings and project the results of future
events. They encourage rigor and objectivity in decision making, while facilitating
understanding and collaboration.
Needs
- Marketing is about meeting needs of diverse stakeholders including buyers, sellers,
investors in a company, community residents and even citizens.
- A need is the difference between a consumer’s actual state and some ideal or
desired state.
- When difference is big enough → consumer is motivated to take action to satisfy the
need.
- Related to physical functions (like eating) or psychological functions (like wanting to
look good)
Want
- Desire for a particular product to satisfy a need in specific ways that depends on an
individual’s history, learning experiences and cultural environment.
Benefit
- Product delivers a benefit when it satisfies a need or want.
- Marketers → to be successful, develop products that provide one or more benefits
that are important to consumers, while convincing them that their product is better
than a competitor’s product.
Consumer
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