W2-CHAP1 Flashcards
who is the father of moder marketing
PHILIP KOTLER
A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging goods and services of value with others.
marketing - (according to philip kotler)
Set of activities, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.
Marketing - (according to philip kotler)
An organizational function and a set of processes for creating, communicating, delivering value for customers and for managing customer relationships in ways that benefit the organizations and its stakeholders.
Marketing - (according to philip kotler)
The performance of business activities that directs the flow of goods and services from producer to consumer or user.
Marketing - (according to philip kotler)
is the study, planning, implementation and control of programs intended to form, make and preserve equally beneficial exchanges and relationships with the target markets for the reason of reaching organizational objectives.
Marketing management
Generally, _______________ is the process of planning, executing, and tracking the marketing strategy of an organization.
This includes the marketing plan, campaigns, strategies and tactics used to create and meet the demand of target customers to drive profitability (Dickerson,
2022).
Marketing management
The group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by the law to acquire the
product.
Market
The physical market where goods and services are traditionally bought and sold.
MarketPlace
The virtual market where transactions are conducted online
Market Space
THREE TYPES OF MARKET
Consumer Market
Business Market
Institutional Market
It is also called B2C market that is business to consumer market.
CONSUMER MARKET
It is the end consumers of various merchandise like products that are purchased by the consumer for their own or household usage that constitutes the consumer market.
CONSUMER MARKET
This is called B2B market
that is business to business.
BUSINESS MARKET
A market where output of one form goes either as raw material, or as processed goods, or as consumable goods into another industry.
BUSINESS MARKET
Buyers buy goods to
resell at some point of time for profit
BUSINESS MARKET
The purchase is done by
institutions, organizations.
INSTITUTIONAL MARKET
However, it is not for
profit making. It is not
for reselling to any third
party.
INSTITUTIONAL MARKET
TEN TYPES OF ENTITIES THAT
CAN BE MARKETED
10:
- Goods
- Services
- Experiences
- Events
- Persons
- Places
- Properties
- Organizations
- Information
- Ideas
________________ _______ constitute the bulk of most countries’ production and marketing effort. Particularly food, commodities, clothing, and housing
Physical Goods
Include airlines, hotels, and maintenance and
repair people, as well as professionals such as
accountants, lawyers, engineers, and doctors.
Many market offerings consist of a variable mix of goods and services.
Services
By orchestrating several services and goods, one
can create, stage, and market ______________.
Enchanted Kingdom is an ____________; so is the
SkyRanch.
Expriences
Marketers promote time- based ______, such as the Olympics, trade shows, sports events, and artistic performances.
Events
Celebrity marketing has become a major business.
Artists, musicians, CEOs, physicians, high-profile
lawyers and financiers, and other professionals draw help from celebrity marketers.
PERSONS
