the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging
offerings that have value for customers, clients, partners, and society at large
Eras of marketing - 1. production
2. sales era
3. marketing concept era
4. customer relationship era
need - precedes a want; underlying necessity
-basic physical and psychological needs
want - -our preferred way of satisfying our needs
market - -a group or groups of consumers that can be characterized by their interests or buying habits
-desire and ability to buy an offering
industry - -esists to serve a market
-collection of product and service providers positioned for a target audience
target market - the group or groups of consumers an organization directs in marketing efforts to
4 p's - -cant control
-product, price, promotion, place
product - functionality, brand, packaging, services, warranty and services after
supermarket jam experiment - more jame options were more attractive
but with less James, more people bought something
great variety.. - -greater expectation and greater opportunity cost
benefits vs features - -consumers buy benefits, not features
-why how what
organizational structure - 1. board of directors
2. corporate- level strategy
3. business unit level strategy
4. functional Lebel strategy
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