༉‧₊˚. bus marketing prelim

the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have value for customers or society at large

marketing

5 core concepts of marketing

• needs, wants, and demand

• market offerings

• customer value and satisfactions

• market

• exchange and relationship

basic necessity

needs

preference of a person

wants

purchasing power

demand

products/services offered to fulfill customer needs/wants

market offerings

the benefit and being fulfilled

customer value and satisfactions

composed of all people who will buy the product

market

transactions

exchange and relationship

evolution of marketing (process)

1. production era (1800s-1930s)

2. sales era (1960s)

3. marketing concept era

4. customer relationship era

the products will sell themselves and therefore, the task focus on production and distribution

production era

uses more aggressive approach in selling their products

sales era

increase emphasis on discovering customer’s need

marketing concept era

satisfying customer needs and wants

customer relationship era