Marketing: The core

Review - Chapter 1 1. Define Marketing and identify the diverse factors influencing marketing activities.
Marketing is the activity for creating, communicating, delivering, and exchanging offerings that enefits customers, the organi!ation, its stakeholders, and society at large" There are two primary goals of marketing: a# discovering customers$ needs, and # trying to satisfy them" To achieve this goals involve the four marketing mix factors %& 's# and the five environmental forces"

2. Explain how marketing discovers and satisfies consumer needs.

The first step is to discover the needs and wants of prospective uyers and customers" (ich is not easy ecause they do not always know what they want or need or how to descri e what they want" ) need is when a person feels deprived of a asic necessity" ) want is a need that is shaped y a person$s knowledge, culture , and personality" *ffective marketing tries to influence what a person uys and is a le to shape a person$s want" +ecause an organi!ation isn$t a le to satisfy all customer needs, it focus on a target market" ,aving selected this specific group of customers, the organi!ation then takes action and develop a uni-ue marketing program to reach them"

3. Distinguish between marketing mix factors and environmental forces.

Marketing mix factors, known as the four 's %'roduct, 'rice, 'romotion and 'lace# is a complete marketing program created y the marketing department of a organi!ation to reach the target market" .t is a controlla le varia le ecause they can e controlled y the marketig department" /n the other hand, environmental forces, also known as uncontrolla le varia les, are out of the organi!ation$s control" *nvironmental forces include social, technological, economic, competitive, and regulatory forces that affect the results of a marketing decision"

4. Explain how organizations build strong customer relationships and customer value through marketing.
The organi!ation tries to uild strong and long-term customer relationships y trying to gain the customer$s loyality" They try to achieve it y focusing on the uyers$ enefits, including -uality, convenience, on-time delivery, and efore-and-after-sale service at a specific price" They do this y using one of the three customer value: est price, est product, or est service"

5. Describe how today's customer relationships differs from prior eras.

The history of 0"1" usiness is divided in four eras" The first is the production era that covers the period until 1234$s, when consumers were willing to accept any good avai le" +etween the 1234s and 1254s, manufacturers found that they could produce more goods than the uyers could consume" This era rought competition etween manufacturers and is known as the sales era" .n the late 1264s, known as the marketing concept era, organi!ations adopted a strong market orientation and integrated marketing into each phase of their usiness" The fourth is

today$s customer relationship era, in which organi!ations seek continuously to satisfy the high expectations of customers"