Marketing 1.01
What does the selling function involve that makes it so important?
-Contacting customers
By increasing awareness of the need for environmental controls, what has marketing done?
-Improved the quality of life
Company XYZ has predicted it will sell 3,000 new microwaves during the "Back to School" sale. Which marketing function is this business using?
-Market planning
Which marketing function helps business people forecast how much will be sold in a given period?
-Market planning
What does applying the customer-orientation element of the marketing concept enable the business to do?
-Offer products that consumers want to buy
After the popularity of a product dropped, the business needed a new product to promote that would help to improve its image. Which marketing function would come up with the new product?
-Product/Service management
Paul's plant food is losing its popularity among his customer base. What marketing function would come up with the improved product?
-Product/Service management
According to the marketing concept, which option shows company commitment
-Setting aside funds to research what customers want
What is Marketing?
All activities to get product from manufacturer to consumer that are guided by consumer's wants and needs
Customer Orientation
Business focus on building relationships w/ customers to facilitate loyal, repeat customers for life.
Promotion
Communication that is used to inform, persuade, or remind customers about a business's products. (Advertising
Customer Needs / Wants
Desires of the consumers that convert into purchases
Explain where marketing occurs.
EVERYWHERE!!!!!!!!!!!
Customer Satisfaction
Meet or exceed customer's expectations
Services
intangible purchases Consumer vs. Industrial
Communication Skills
interacting with people and organizations
Professional Development
ongoing growth within a career path
Economics
study of allocating resources to maximize their uses
Business, Management, Entrepreneurship
study of operating and managing a business & all the skills and concept necessary
Goods
tangible purchases