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marketing
the act, set of instructions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
customer relationship management
The process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so the buyers will stay loyal upon choosing them in marketplace
target market
one or more specific groups of potential consumers that an organization directs its marketing towards
new-product failure
the result of marketing programs not being able to reach the customer or fulfill the customers’ needs
the four P’s
the controllable marketing mix factors:
product: good, service, or idea to satisfy the consumer’s needs
price: what is exchanged for the product
promotion: means of communication between the seller and buyer
place: means of getting the product to the consumer
customer value proposition
cluster of benefits that an organization promises customers to satisfy their needs (i.e. what do they provide to their customers; providing safety conscious parents greater security.."
types of organizations
for-profit: privately owned organization that serves its customers to earn profit
non-profit: nongovernmental organization that serves customers but doesn’t have profit as an organizationl goal
government agency: federal, sate, county, or city unit that provides a specific service to the constituents
Note
Flashcard