WHAT IS MARKETING: is the organization function and set up process for creating communicating and delivering value to the organizations stakeholders and managing costumer’s relationships in the way that is profitable for the company.
WHAT IS THE GOAL OF MARKETING: The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensure profitability.
VALUE IN MARKETING: Is the difference between a prospective costumer’s evaluation of the benefits and costs of one product when compared ...view middle of the document...
SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.
STEPS OF MARKETING PLAN: According to Philip Kotler (2003, pp. 115-116), marketing plans are developed (elaborated) for individual products, lines, brands, channels, or customer groups.
1. Executive summary/ situation analyses
2. Target segmentation
3. Positioning strategy
4. Marketing mix actions 4 P’s
6. Implement, monitor, control
VALUE PROPOSITION: It’s an offer of value set benefits costumer receive an exchange for what they give up and link to a marketing strategy. Or It’s an offer that communicate the sets of benefits that receive an exchange for what they give up or exchange or pay.
ATTRIBUTES FOR SERVICE QUALITY: Fogli (2006, p.4) define service quality as “a global judgement or attitude relating to a particular service; the customer’s overall impression of the relative inferiority or superiority of the organization and its services.
STEPS FOR BUSINESS BUYING:
1. Problem recognition/needs
2. Set specifications for that services
3. Solicit bids
4. Collect bids
6. Chose a supply
7. Monitoring the performance