Download - Marketing foundations & elements
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Marketing Foundations &
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Foundations of Marketing
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Economics
The study of allocating resources to
maximize their uses.
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The study of operating and managing a
business & all the skills and concepts
necessary.
Business, Management, Entrepreneurship
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Interacting with people and organizations
Communication Skills
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Ongoing growth within a career path
Professional Development
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Elements of the Marketing Concept
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Customer Orientation
Business focus on building relationships
with customers to facilitate loyal, repeat
customers for life.
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Customer Satisfaction
Meet or exceed customer’s expectations
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Customer Needs / Wants
Desires of the consumers that convert into
purchases
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Company Approach
Employees working together to satisfy their
customers to earn profits
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Company Commitment
All employees focused on the customers
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Company Goals
Goals should be focused on satisfying
customers
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CRM – (Customer Relationship Management)
Combines customer information via
databases with customer service and
marketing communication
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Marketing Loyalty Programs
Rewards repeat customers
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Product
Business provides items that satisfy
desires of consumers
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Profits
Money business keeps after paying all
expenses