University:
California State University, Northridge
Course:
MKT 304 | Marketing Management
Academic year:

2023
Views:

8

Pages:

2
Author:

Mahmoud M.

Marketing notes Definitions According to Kotler and Armstrong (2013), marketing is the process by which a company creates a relationship between customers to capture the value returns and Creates value for customers. Marketing is a management process responsible for identifying, anticipating, and satisfying Customer Activity (CIM) American Marketing Association Definition - Marketing is a complete strategy, pricing, promotion and distribution strategies, product and services planning, and Process of communication people and between targets. Marketing is 's process of planning and executing strategies, ideas, pricing, promotion and distribution of goods and services (4 Ps) to create exchanges (with customers) that meet personal goals and objectives. The process by which an organization creates value for customers based on ideas, products, and services to facilitate exchange relationships and derive value from the goods used. Ideas can be identified from the following points; Wanting, wanting and needing marketing in general the idea is that people want. Human needs are states of inadequate thinking. These include physical needs for food, shelter, and clothing Price, satisfaction, and quality Consumers make choices based on their perception of value offered by various goods and services. Consumer Value It is the difference between the value that the consumer obtains as a result of owning and using the product and the cost of acquiring it. Customer satisfaction How well the product is perceived to meet customer needs. If does not meet expectations, the buyer is not satisfied. If the performance meets or exceeds expectations, the buyer is satisfied or happy. Customer satisfaction The degree to which the product is perceived to meet the buyer's needs. If does not meet expectations, the buyer is not satisfied. If the performance meets or exceeds expectations, the buyer is satisfied or happy. Total Quality Management Satisfaction is close to quality. Many companies have adopted all quality services to improve their quality and business processes. Transaction A transaction between two parties regarding at least two assets, agreed terms of , agreed time and place. Business Collection by all actual and potential buyers of the good or service. Marketing (a) Understanding customer needs and expectations (b) Developing customer marketing strategies for value (c) Delivering Value to Fulfill Customer Needs (d) Customer Capture Value (e) Generating Revenue from Customers