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Marketing foundations & elements

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Marketing 6621

Marketing 6621

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Transcript

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