INTRODUCTION TO MARKETING

This bingo card has a free space and 24 words: A societal and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and value with others, • Products and services • Value, satisfaction and quality • Exchange, transactions and relationships • Marketing orientation • Needs, wants and demands, The organizational goals depend on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors, • Production concept • Product concept • Selling concept • Marketing concept • Societal Marketing concept, • This concept is the oldest of the concepts in business. • It holds that consumers will prefer products that are widely available and inexpensive. • Managers focusing on this concept concentrate on achieving high production efficiency, low c, • Marketing helps in the transfer, exchange, and movement of goods • Marketing creates employment • Marketing as a source of income and revenue • Marketing acts as a basis for making decisions • Marketing acts as a source of new ideas, • Marketing Concept • Customer Orientation • Satisfying Customer • Market Segmentation • Value and the exchange process • Product Life Cycle • Marketing Mix, The force that affects the ability of a marketer to conduct its marketing activities, • Company • Suppliers • Marketing Intermediaries • Customers • Competitors • Publics, “It is one of the sets of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market”, • A bigger societal force that affects the organization. • It is an uncontrollable environment in which marketers have little or no influence, • This concept holds that the organization’s task is to determine the needs, wants, and interests • Target markets and deliver the desired satisfactions more effectively and efficient • Competitors in a way that preserves or enhances the consumer, • This is another common business orientation. • It holds that consumers and businesses if left alone, will ordinarily not buy enough of the selling company’s products. • The organization must undertake an aggressive selling and promotion effo, • Distribution channel firms that help the company find customers or make sales to them • Include wholesalers and retailers who promote, sell, and distribute products to the end users, Is the act of obtaining a desired object from someone by offering something in return, • Holds customers prefer existing products and products form, and the job of management is to develop good versions of these products. • Organization should therefore put more energy on making continuous products improvements by improving the pr, These include basic physical needs for food, clothing, warmth, and safety; social needs for belonging, affection fun, and relaxation; esteem needs for prestige, recognition, and fame; and individual needs for knowledge and self-expression., • Known as middleman that help company to promote, sell and distribute its goods to final buyers • Affect marketing’s value delivery system since marketing is also concerned with the delivery of products to customers, Marketers must respond to these situations with social conscience, producing products that are environment friendly and save, promote a universal message of environmental preservation like recyclable products, recyclable packaging and biodegrada, “Anything can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need”, Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of everything., When backed by buying power, request for specific products that the buyer is willing to pay for., • Short exposure to the services • Emotional buying demand • Importance of proof and reality • Exposure to the image and posture • Variability of marketing channel • Dependent on other organization • Easy to imitate service • Promotion more on off- and The totality of features and characteristics of a product or service that bear on its ability to satisfy customer needs.

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