Marketing: Selling and Advertising
Marketing is basically selling and advertising.
Estimating what price consumers are willing to pay for a product and if the firm can make a profit selling at that price, is an example of a production activity.
Marketing can provide needed direction for production and help make sure that the right goods and services find their way to interested consumers.
Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires, and expectations.
Marketing encourages the development and spread of new ideas, goods, and services.
Marketing is both a set of activities performed by organizations and a social process.
From a micro view, marketing activities are performed only by profit-oriented organizations.
"Economies of scale" means that as a company produces more of a product, the total cost of production goes up.
Planning, implementation, and control are basic jobs of all managers.
Strategic planning is a top management job that includes planning only for marketing.
Finding attractive opportunities and developing profitable marketing strategies are the tasks included in the marketing manager's marketing strategy planning job.
A marketing strategy is composed of two interrelated parts--a target market and a marketing mix.
The "four Ps" of the marketing mix are People, Products, Price, and Promotion.
Promotion is composed of personal selling, advertising, publicity, and sales promotion.
S.W.O.T. analysis is based on the idea that one of the best ways to develop a strategy is to identify and copy the marketing "strategies, weapons, outlook, and tactics" of the firm's most effective competitor.
Earning a profit probably should be one of the objectives of a firm, but it should not be the only one.
A mission statement can help a manager decide which opportunities to pursue and which to screen out.
Company objectives should lead to a hierarchy of marketing objectives.
If the cost of production per unit goes down as the
Estimating what price consumers are willing to pay for a product and if the firm can make a profit selling at that price, is an example of a production activity.
Marketing can provide needed direction for production and help make sure that the right goods and services find their way to interested consumers.
Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires, and expectations.
Marketing encourages the development and spread of new ideas, goods, and services.
Marketing is both a set of activities performed by organizations and a social process.
From a micro view, marketing activities are performed only by profit-oriented organizations.
"Economies of scale" means that as a company produces more of a product, the total cost of production goes up.
Planning, implementation, and control are basic jobs of all managers.
Strategic planning is a top management job that includes planning only for marketing.
Finding attractive opportunities and developing profitable marketing strategies are the tasks included in the marketing manager's marketing strategy planning job.
A marketing strategy is composed of two interrelated parts--a target market and a marketing mix.
The "four Ps" of the marketing mix are People, Products, Price, and Promotion.
Promotion is composed of personal selling, advertising, publicity, and sales promotion.
S.W.O.T. analysis is based on the idea that one of the best ways to develop a strategy is to identify and copy the marketing "strategies, weapons, outlook, and tactics" of the firm's most effective competitor.
Earning a profit probably should be one of the objectives of a firm, but it should not be the only one.
A mission statement can help a manager decide which opportunities to pursue and which to screen out.
Company objectives should lead to a hierarchy of marketing objectives.
If the cost of production per unit goes down as the