Marketing/ Macro marketing
the DEFINETION of Marketing.
What is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.
The marketing functions.
What is: Buying, Selling, Transporting, Storing and grading, Financing, Risk taking, and Marketing information.
The way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption by various people and groups in the society.
What is Economic System
the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits.
What is Customer Value
What is good for some producers and consumers may not be good for society as a whole.
What is Micro-Macro Dilemma
the Definition of Macro Marketing.
What is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.
The DEFINETIONS of Intermediary and Collaborators.
What is:
Intermediary: someone who specializes in trade rather than production
Collaborators: firms that facilitate or provide one or more of the marketing functions other than buying or selling.
Government officials decide what and how much is to be produced and distributed by whom, when, to whom, and why.
Planned economies.
Consumers have few choices due to little variability.
What is command economy.
the extent to which a firm fulfills a consumer's needs, desires, and expectations.
What is Customer Satisfaction
A firm’s obligation to improve its positive effects on society and reduce its negative effects.
What is social responsibility?
Why should we learn marketing. State of all answer to get any credit.
What is:
Marketing is important to every consumer.
Marketing will be important to your job.
A marketing approach can help you get your next job.
Marketing affects innovation and standard of living.
sorting products according to size and quality.
What is Standardization and Grading
individual decisions of the many producers and consumers make the macro-level decisions for the whole economy.
The system is governed by the words and actions of consumers and citizens, with the government setting the boundaries.
What is Market Driven Economy
why is customer value important to customer satisfaction.
What is: Everyone in a firm working together to provide customer value before and after the purchase so the customer is satisfied.
Overall in more detail:
customer value is essential to customer satisfaction because it reflects the extent to which a product or service meets customer needs and expectations relative to its cost.
By prioritizing customer value, companies can differentiate themselves, build stronger relationships with customers, reduce churn, and drive long-term success in the marketplace.
an organization aims all its efforts at satisfying its customers—at a profit.
What is marketing concept?
The differences between Marketing and Macro Marketing.
What is:
Marketing: Process of promoting and selling products or services to customers. Consists of: Advertising, Sales Strategies, etc..
Macro- Marketing: The whole marketing system within a society. It focuses on the broader societal and environment factors that influence decision making.
the collection, analysis, and distribution of all the information needed to plan, carry out, and control marketing activities.
What is Market Information Function
Talk about how marketing roles have changed over time (the eras).
What is:
Simple trade era to production era
SIMPLE TRADE ERA: a time when families traded or sold their "surplus" output to local distributors, who resold the goods to other consumers or other distributors.
From the production to the sales era
PRODUCTION ERA: a time when a company focuses on production of a few
specific products--
perhaps because few of these products are available in the market.
SALES ERA: a time when a company emphasizes selling because of increased competition.
To the marketing department era
MARKETING DEPARTMENT ERA: a time when all marketing activities are
brought under the control of one department to improve short-run policy planning and to try to integrate the firm's activities.
To the marketing company era
MARKETING COMPANY ERA: a time when in addition to short-run marketing
planning, marketing people develop long range plans--sometimes five or more years ahead--and the whole company effort is guided by the marketing concept.
Woosh, those other 400 and 500 point questions we though. Lets do some review.
each family unit produces everything it consumes.
What is Pure subsistence economy.
the moral standards that guide marketing decisions and
actions.
What is marketing ethics?
A part of the role of a macro – marketing system
What is:
To get products o consumers at the right time, place, and price.
To help ensure that the society's objectives are met.
To match heterogenous supply and heterogenous demand.
Know the marketing functions and why marketing specialists—including intermediaries and collaborators—develop to perform them.
Meaning list ALL marketing functions and their definition. ASLO, explain why marketing specialist develop to perform them.
What is:
+Buying Function: looking for and evaluating goods.
+Selling function: Promoting the product.
+Transporting: Movement of good from one place to another.
+Storing: holds goods until customers needs them.
+Standardization and Grading: sorting products according to size and quality.
+Financing: provide the cash and credit to produce, transport, store, promote, sell, and buy products.
+Risk taking: bearing the uncertainties that are apart of marketing process.
+Market Information function: the collection, analysis, and distribution of all the information needed to plan, carry out, and control marketing activities.
and They are develop to improve profits and customer satisfaction.
How does a market driven economy adjust to the macro marketing system? (if you say the key words, you will get it right!!)
What is:
a market-driven economy adjusts the macro-marketing system through the interplay of supply and demand, competition, innovation, and regulatory mechanisms to achieve efficient resource allocation and promote economic growth.
Key words: Supply and Demand
a time when all marketing activities are brought under the control of one department to improve short-run policy planning and to try to integrate the firm's activities.
What is marketing department era?
Know how social responsibility and marketing ethics relate to the marketing concept.
What is:
social responsibility and marketing ethics are integral components of the marketing concept, guiding companies in understanding and meeting customer needs while considering the broader impact of their actions on society and stakeholders. (important)
By incorporating social responsibility and ethical considerations into marketing strategies, companies can build long-term relationships, enhance their reputation, and contribute to sustainable business success.