Overview Of Marketing Management Flashcards
Top line
Sales revenue
drucker top line
Everything a company does is a cost centre. The only profit centre is a customer whose cheque doesn’t bounce.
Marketing
A social process involving the activities necessary to enable individuals and organizations to obtain what they need and want through exchanges with others and to develop ongoing exchange relationships
Needs
Basic forces that drive an exchange
Wants
Desires or preferences for a way to satisfy a need
A market consists of
Individuals and organizations who are interested and willing to buy a particular product to obtain benefits thAt will satisfy a specific want or need and who have the resources to engage in such a transaction
Customer value
Benefits a customer receives less the cost he bears to receive benefits, determines offering value
4 CD
Company and its mission
Context ( macro environmental)
Customers
Competitors
A market consists of
A) individuals and organizations who
B) are interested and willing to buy a particular product to obtain benefits that will satisfy a need or want
C) have resources (time, money) to engage in transaction
Ultimate customer
Buy goods and services for their own use
Organizational customer
Buy goods and services for resale, or inputs, or operations
Products
Physical objects that fulfill a need
Services
Provided y people
Value of long term customer
It costs more to attract a new customer than to keep an existing one
Process to define target market
Define market ... A) gap B) segmentation C) targeting D) product positioning
