chapter 1 - Class Notes Jan 18th Flashcards
what 2 terms are these points referring to:
- Build & maintain a loyal customer base
- Make a product that satisfies a variety of consumer demands
-Consumer positioning is important
-Good marketing can establish value
providing value
list the 4 p’s
- product
- place
- price
- promotion
need vs want..explain?
need is a basic necessitiy
want is how to fufill that need
includes thoughts, opinions, philosophies, and intellectual concepts that also can be marketed
promotion
everything the buyer gives up in exchange for the product
- Time
- Money
- Energy
price
distribuiton or deliverance of the product
place
- creating value for goods, services, and ideas
product
- The communication activities of marketing
- Used to inform, persuade and remind potential buyers
promotion
what kind of busbuiness is wholesaling
B2B
what kind of business is retail
B2C
what kind of business is ebay, yard sales, etc
C2C
The use of digital tools to easily and quickly create and share content to:
- foster dialogue
- Social relationships
- Personal identities
social media marketing
companies focus on developing and distributing innovative products with little concern about whether the products best satisfy customers’ needs.
Product Orientation
companies start out by focusing on what consumers want and need before they design, make, or attempt to sell their products and services.
Market Orientation
a selling function where companies try to sell as many of their products as possible rather than focus on making products consumers really want.
Sales Orientation
