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Customer-Driven Marketing and its Strategy * (Nature of Marketing…
Customer-Driven Marketing and its Strategy *
Nature of Marketing
Marketing
, a vital part
of any business
undertaking, is a group
of activities designed to
expedite transactions
by creating, distributing,
pricing, and promoting
goods, services, and ideas.
Functions of Marketing
Buying
Transporting
Storing
Selling
Grading
Financing
Marketing research
Risk taking
The Exchange Relationship
Creating Value with Marketing
Value is a customer’s
subjective assessment
of benefits relative
to costs in determining
the worth of a product.
The Marketing Concept
The
marketing concept
is the idea that an organization should try to satisfy customers’ needs through coordinated activities that allow it to achieve its own goals.
Evolution of the Marketing Concept
The Production Orientation
The Sales Orientation
The Market Orientation
Developing a Marketing Strategy
A
marketing strategy
is a plan
of action for developing,
pricing, distributing,
and promoting products
that meet the needs
of specific customers.
Selecting a Target Market
Total-market approach
market segmentation
Market Segmentation Approaches
concentration approach
multi-segment approach
Bases for Segmenting Markets
Demographic
Geographic factors
Psychographic
Behavioristic
Developing a Marketing Mix
Product
Distribution
Price
Promotion
Marketing Research and Information Systems
Primary data
Secondary data
Online Marketing Research
Buying Behavior
Motivation
Learning
Perception
Attitude
Personality
Social Variables of Buying Behavior
Reference groups
Social classes
Culture