Scribd
Upload
101 views2 pages

Chapter 12 Notes

The document provides an overview of key concepts in marketing, including: 1) It describes the evolution of marketing from the production, sales, and marketing concept eras to the current customer relationship era. 2) It defines the market research process and different types of data collection. 3) It outlines different types of market segmentation including geographic, demographic, psychographic, and behavioral segmentation as well as niche, one-to-one, and mass marketing approaches. 4) It notes some key differences between consumer and business-to-business markets.

Uploaded by

Adam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
101 views2 pages

Chapter 12 Notes

The document provides an overview of key concepts in marketing, including: 1) It describes the evolution of marketing from the production, sales, and marketing concept eras to the current customer relationship era. 2) It defines the market research process and different types of data collection. 3) It outlines different types of market segmentation including geographic, demographic, psychographic, and behavioral segmentation as well as niche, one-to-one, and mass marketing approaches. 4) It notes some key differences between consumer and business-to-business markets.

Uploaded by

Adam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Arjun Nigam

Chapter 12 Notes – Marketing

- Marketing; process of determining customer needs/wants and then developing goods/services that
meet or exceed these expectations
- Green Marketing; marketing efforts to produce, promote, and reclaim environmentally sensitive
products

Evolution of Marketing
- Production Era
o General philosophy of business was to produce as much as possible
- Sales Era
o Emphasis on selling
o Effort to persuade customers to buy existing products
- Marketing Concept Era
o Customer orientation; find out what customers want and provide it for them
o Service orientation; ensure that everyone in organization has same goal; customer
satisfaction
o Profit orientation; focus on those goods/services that will earn the most profit and enable
organization to survive and expand to serve more customer wants/needs
- Customer Relationship Era
o CRM; process of learning as much as possible about customers and doing everything you
can to satisfy them

- Product; any physical good, service, or idea that satisfies want/need


- Test Marketing; process of testing products among potential users

Market Research Process


- Defining the question and determining the present situation
o What problems or opportunities are present
o What the alternatives are
o What info is needed
o How to get the info
- Collecting Data
o Primary Data; data that you gather yourself
o Secondary Data; info that has already been compiled by others and published in journals
and books or made available elsewhere
o Focus Group; small group of people who meet under direction of discussion leader to
communicate opinions about organization, products, or other issues

Marketing Environment
- Environmental Scanning; process of identifying factors that can affect marketing success
- Consumer Market; all individuals or households that want goods/services for personal consumption
- Business-To-Business (B2B) market; individuals and organizations that want goods/services to use
in producing other goods and services to sell

Consumer Market
Arjun Nigam

- Market segmentation; process of dividing total market into groups whose members have similar
characteristics
- Target Market; marketing directed toward those groups an organization decides it can service
profitably
- Geographic Segmentation; dividing the market by geographic area
- Demographic segmentation; dividing market by age, income, and education level
- Psychographic segmentation; dividing market according to personality or lifestyle
- Behavioral segmentation; dividing market based on behavior with or toward product
- Niche Marketing; process of finding small but profitable market segments and designing/finding
products for them
- One-To-One marketing; developing unique mix of goods/services for each individual customer
o Travel agencies
o Dell computers
- Mass Marketing; developing products/promotions to please large groups of people
o Little segmentation
o Mass media; TV, radio
o Become less responsive to the market
- Relationship Marketing; marketing strategy with goal of keeping individual customers over time by
offering products that exactly meet their requirements

B2B Marketing
- Number of customers in B2B market is few
- Size of business customers is large
- B2B markets tend to be geographically concentrated
- Business buyers are generally thought to be more rational, not emotional
- B2B sales tend to be direct
- Much more emphasis on personal selling

You might also like