Unit 1 Intro Flashcards
who can be the customer in the marketing framework?
consumer
b2b (business to business)
where does the marketing framework start with?
customer in mind
what are the three sections next to customers in the marketing framework?
MK research
consumer behavior
targeting, segmenting, positioning
before you beginning with the marketing mix, you need to know?
the marketing strategies
what are the 4p’s? “marketing mix”
“creating value”— product
“communicating value”— promotion
“delivering value”– place
“exchanging value” – price
the marketing mix revolves around?
value
what’s the american marketing association definition?
marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
what can be marketed? (offering)
products(tangible), services, ideas, places, people
who are the marketers?
private sector
non-profit
government
you (we are all)
who is part of the environment? (mk framework)
domestic
international
what is social marketing?
satisfy customers needs and achieve social change
what is sustainability?
meeting present needs and ensuring that future generations can meet their needs (sustainable design)
what is ROMI?
RETURN ON MARKETING INVESTMENT
What is metrics?
measuring how much value is created by marketing activities
what is marketing about?
about meeting needs!
what is need?
difference between a consumers actual state, some ideal or desired state
what is want?
a desire for a particular product used to satisfy a need in specific ways that are culturally and socially influenced
what is demand?
wants for specific products that are backed by an ability and willingness to buy them
what is benefit?
product delivers a benefit when it satisfies a need or want
What is the service dominant logic
3 layers
Inner- core benefit
Middle- actual product (brand)
Outer- augmented product
How is valued determined?
value is determined by the customer
what is value
values is what the customer gets by purchasing and consuming a company’s offering
what is the marketing concept
every employee in the company is focused on serving the customer at a profit
