Intro to Marketing Rutgers Monga Chapter 1 – Flashcards
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4 P's
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Controllable Marketing Mix Factors 1.) Product 2.) Price 3.) Place 4.) Promotion
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uncontrollable environmental factors
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Sociable, Economic, Tech., Competition, Regulatory
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Customer Value
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benefits received by targeted buyers that includes quality
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Relationship Marketing
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easy to understand; hard to do. links the organization to its individual customer for long-term benefits
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market concept
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1. satisfy the needs of consumers 2. Trying to achieve the organization's goals
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Market Orientation
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1. collecting information about cutomers needs 2. sharing it across departments 3. using it to create customer value
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customer relationship management (CRM)
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identifying buyers, so buyers will choose them
