Marketing foundations & elements

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Marketing 6621

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Marketing foundations & elements

  1. 1. Marketing Foundations &
  2. 2. Foundations of Marketing
  3. 3. Economics The study of allocating resources to maximize their uses.
  4. 4. Business, Management, Entrepreneurship The study of operating and managing a business & all the skills and concepts necessary.
  5. 5. Communication Skills Interacting with people and organizations
  6. 6. Professional Development Ongoing growth within a career path
  7. 7. Elements of the Marketing Concept
  8. 8. Customer Orientation Business focus on building relationships with customers to facilitate loyal, repeat customers for life.
  9. 9. Customer Satisfaction Meet or exceed customer’s expectations
  10. 10. Customer Needs / Wants Desires of the consumers that convert into purchases
  11. 11. Company Approach Employees working together to satisfy their customers to earn profits
  12. 12. Company Commitment All employees focused on the customers
  13. 13. Company Goals Goals should be focused on satisfying customers
  14. 14. CRM – (Customer Relationship Management) Combines customer information via databases with customer service and marketing communication
  15. 15. Marketing Loyalty Programs Rewards repeat customers
  16. 16. Product Business provides items that satisfy desires of consumers
  17. 17. Profits Money business keeps after paying all expenses

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