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* Needs: It’s a feeling of privation of something; the perception of a lack. Human needs are many and complex; they include physical, social and individual needs
* Desires: are expressions of needs, but they depend on the culture and the personality of the buyer; for example, to calm thirst which is a need, we can drink water, soda, juice, beer, etc.
* Satisfaction: Moodlevel of a person that results from comparing the perceived performance of a product or service with their expectations.
* Demand: Are the desires supported by the purchasing power; someone demands a product when is able and willing to satisfy his desire. Desire + purchasing power = Demand.
* Market: group of people and companies that demand a product; buyers that share a need or desirein specific that the products or services of a company can satisfy.
* Aim market (target market): Is the portion of market that the company aims in order to satisfy it.
* Market participation: Indicates the market percentage of total sales of a product during a period defines in a specific market, reached by a company.
Marketing Definitions:
* Marketing, according to the AmericanMarketing Association, is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
* For Stanton, Marketing is a total system of business activities devised to plan needs satisfier products, assign their prices, promote them and distribution to target markets, toachieve the objectives of the organization.
Why? ; How? And benefits
* Marketing as a philosophy: focus on the client, how? Searching the satisfaction of his needs, Where to begin? Knowing and identifying their needs and desires.
* A satisfied client buy more, is loyal, speaks well of the product to others, is less sensitive to prices, pays less attention to the competition.
*We have to attract new clients and make the actual clients stay.
* Massive individualization: Is when a company creates products in order that clients can pick what they want.
* Customer Lifetime value: estimates the value of a client to the company for his or her lifetime; losing a customer is loose all the money he or her would pay as long as he or she lives.
* Customer relationshipmanagement: If we can provide customer’s data we are able to satisfy his or her needs efficiently.
* Marketing in not only for business; it can be used to promote institutions, people, places and ideas.
* Marketing is not only convenient to the one who develop it, it is also good to customers, it give them lower prices, improvements in product’s quality and gets the customer the facilityto pick.
* Society is also advantaged by marketing: in contributes to technological process, give work posts, social marketing development and improves international trade.
* New marketing aims: Globalization, nonprofit marketing, New landscape to the information technology, ethical concerns (environmentalism)
Marketing environment:
* external environment: It is divided in two,micro external environment which include suppliers, market and intermediaries; and the macro external environment which include demography, competition, technology, economic conditions, social and cultural environment and politic legal environment.
* micro external environment:
* Suppliers: Composed of persons or companies that provide goods and services that let our company produceand operate.
* Market: People or organizations with needs to satisfy and willing to pay for that.
* Intermediaries: Form part of the distribution channel, they operate between the company and the market and can be wholesalers or retailers.
* Macro external environment:
* Demography: Statistical study of the human population and distribution.
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