Marketing - ✅✅ The process by which companies create value for customers and build strong customer relationships in order to capture value from
... [Show More] customers in return
Needs - ✅✅ States of felt deprivation
Wants - ✅✅ The form human needs take as they are shaped by culture and individual personality
Demands - ✅✅ Human wants that are backed by buying power
Market Offerings - ✅✅ Some combination of products, services, information, or experiences offered to a market to satisfy a need or want
Marketing Myopia - ✅✅ The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products
Exchange - ✅✅ The act of obtaining a desired object from someone by offering something in return
Market - ✅✅ The set of all actual and potential buyers of a product or service
Marketing Management - ✅✅ The art and science of choosing target markets and building profitable relationships with them
Production Concept - ✅✅ The idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency
Product Concept - ✅✅ The idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements
Selling Concept - ✅✅ The idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort
Marketing Concept - ✅✅ A philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
Societal Marketing Concept - ✅✅ The idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests
Customer Relationship Management - ✅✅ The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction [Show Less]