Chapter 12- Understanding the Customer Flashcards
what is marketing
entire process of creating relatons w customers by creats g/s and positive experiences.
Production orientation
ONLY goal of a company is productive efficiency! marketing during industrial revolution was only about taking orders and distribution
when was production orientation prevalent
during industrial revolution! so much demand that al firms did was produce goods and sell them
sales orientation
focsued on advertising the goods and delivering them (Radio and tv)
customer orientation
the best approach to adopt! when firms work to serve customer needs
what sorts of evolution did marketing orientation go through?
Production Orientation
-mass production
Sales Orientation
-more ads
Customer Orientation
-find customer needs and serve them
marketing concept THEORY
BUSINESS SHOULD PROVIDE G/S to meet customer needs through co-ordinated set of activities
customer relationshp management
tech that tracks and organizing info about customers to create marketing stratedies (data analaytics)
BRANDING
what value the company name/ logos hold to cusotmers
1
4 steps of satisfying a customer
right product: customers have choice
right place: convenienve
right time: acquire the product
right price: pay a fair price
utility
ability of a g/s to satisfy a human need
4 kind of utility
form utility
place utility
time utility
possesion utility
form utility
convering producton inputs into a finished products
place utility
making a product availiable to cusotmers at a location where customers with to purchase it
time utiltiy
makigna product avaiable when customers WHN they wanna buy it
POSSISON utlity
transerffing title/ownership to a buyer (sales slip or recipet)
what types of utility does marketing create
place time and possession
the marketing mix (4Ps of marketing)
product: product design, featuers, brand
placement (distribution): transporation, storage
promotion: target market branding
price:max profit or max market share
how do 4Ps of marketing mix deliver value
product: right product
price: right price
place (distribtuion): right place and time
promotion: ALL 4
MARKETING STRATEGY
PLAN THAT WILL MAKE ORG USE RESOURCES TO MEET GOALS
MARKETING STRATEGY 2 STEPS
analyze target market
maintain an approporiate marketing mix/combining marketing activityies
consumer buying decision process
1) recognize problem/opp
2) search for info
3) evaluate alt
4) purchase
5) evaluate after purchase
what are possible influecnes on the decision process
1) situational (time social physical etc)
2) psychological influecnes (Perceptions, motives, learning, PERSONAL CHOICES)
3) social influecnes (family, firends)
