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Marketing 6621
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Marketing Foundations &
Foundations of Marketing
Economics
The study of allocating resources to
maximize their uses.
The study of operating and managing a
business & all the skills and concepts
necessary.
Business, Management, Entrepreneurship
Interacting with people and organizations
Communication Skills
Ongoing growth within a career path
Professional Development
Elements of the Marketing Concept
Customer Orientation
Business focus on building relationships
with customers to facilitate loyal, repeat
customers for life.
Customer Satisfaction
Meet or exceed customer’s expectations
Customer Needs / Wants
Desires of the consumers that convert into
purchases
Company Approach
Employees working together to satisfy their
customers to earn profits
Company Commitment
All employees focused on the customers
Company Goals
Goals should be focused on satisfying
customers
CRM – (Customer Relationship Management)
Combines customer information via
databases with customer service and
marketing communication
Marketing Loyalty Programs
Rewards repeat customers
Product
Business provides items that satisfy
desires of consumers
Profits
Money business keeps after paying all
expenses