Marketing
Marketing at the TU München
Marketing at the TU München
Kartei Details
| Karten | 88 |
|---|---|
| Sprache | English |
| Kategorie | Marketing |
| Stufe | Universität |
| Erstellt / Aktualisiert | 26.07.2013 / 13.03.2015 |
| Lizenzierung | Kein Urheberrechtsschutz (CC0) |
| Weblink |
https://card2brain.ch/box/marketing42
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| Einbinden |
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Scope and Importance of Marketing
“Marketing is a customer focus that permeates organizational functions and processes and is geared towards …
- Making promises through value proposition
- Enabling the fulfillment of individual expectations created by such promises
- Fulfill such expectations through support to customers’ value-generating processes”
-> Value creation
Marketing Management: “The art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value”
Relevant for:
- Shaping products and services
- Building strong brands
- Identifying target groups
When you buy a product, it means you’re not just becoming the owner of the item.
Products include services (-> Service-dominant logic) and events, experiences, persons, places and ideas shape the behavior of customer today.
Understanding Markets and Customers
- Needs
- Demands
Needs are basic human requirements; they become wants when directed to objects that might satisfy the needs.
Demands are wants for products and services backed by an ability to pay.
Types of Markets
- Consumer (Individual decision – making)
- Business (Industry decision – making)
- Non-profit (Decision – making in charities, sports clubs, etc.)
Market Terms
Marketplace (physical e.g. store)
Marketspace (digital e.g. Internet)
Metamarket (Cluster of complimentary products and services that are related, but spread across industries)
Metamediaries (Intermediaries that bring together collections and people)
Marketing Realities and Challenges
Major societal forces
- Recession and economic recovery; effects around the globe
- Technological developments
Changing consumption patterns
- “Slam-on-the-break”
- “Pained but patient”
- “Comfortably well off”
“Live-for-today”
