Marketing Chapter 1, Hunt, Mello
The organizational function and set of processes for creating, communicating, and delivering value to customers.
the perceived benefits, both monetary and non-monetary that customers receive from a product compared to the cost associated with obtaining it.
a marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs
A marketing strategy in which personal selling and advertising are used to persuade consumers to buy new products
A marketing strategy that reflects the idea that a firm’s long-term success must include a company-wide effort to satisfy customer needs
A marketing strategy that focuses on attracting, maintaining, and enhancing customer relationships
An activity that occurs when a two parties trade things of value so that each perceives to be better
States of felt deprivation
The form that human needs take as they are shape by personality, culture, and buying situation
Four Ps of marketing
Product, Price, Place, Promotion