Marketing foundations & elements
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Marketing foundations & elements

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Marketing 6621

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Marketing foundations & elements Marketing foundations & elements Presentation Transcript

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