Marketing

marketing

processes for creating communicating delivering and exchanging offerings to ppl

value

benefit/cost

utility

ability to satisfy want/need

form utiity

has features customers want

time utility

provide when customers want

place utlity

provide where customers want

possession utility

transferring ownership by setting selling prices, setting terms for credit payments, providing ownership documents

consumer goods

physical products purchased for personal use

industrial goods

physical products purchased by companies to produce other products

services

products with non physical features

relationship marketing

marketing strategy that emphasizes building lasting relationships with customers and suppliers

customer relationship management

organized methods that a firm uses to build better information connections with clients

data warehousing

collecting, storing, retrieving data in e-files

data mining

use of e-tech for searching and reorganizing pools of data to uncover useful information

5 p’s

product, price, place, promotion, people

Segmentation, Targeting, Positioning (STP)

model divides the market into distinct segments, identifies and targets groups of customers with tailored marketing campaigns, and positions your products or services in a way that resonates with their desires and demands

direct distribution channel

from producer to consumer

wholesale distribution

from producer to wholesaler to retailer to consumer

retail distribution

from producer to retailer to consumer

agent/broker distribution

from producer to agent to consumer