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1、1-1Chapter11-2TheNatureofMarketingKeyTerms&DefinitionsADefinitionofMarketing:Theprocessofplanningandexecutingtheconception,pricing,promotion,anddistributionofideas,goods,andservicestocreateexchangesthatsatisfyindividualandorganizationalobjectives.1-3TheMarketingConcept
2、KeyTerms&DefinitionsTheMarketingConceptiscomposedofthreetenetswhichareinterrelated:ConsumerOrientationGoalOrientationSystemsOrientation1-4MarketingResearchDefinedMarketingResearchisthefunctionthatlinkstheconsumer,customer,andpublictothemarketerthroughinformationthatisu
3、sedtoidentifyanddefinemarketingopportunitiesandproblems;generate,refine,andevaluatemarketingactions;monitormarketingperformance;andimproveunderstandingofmarketingasaprocess.Marketingresearchspecifiestheinformationrequiredtoaddresstheseissues,designsthemethodforcollecti
4、nginformation,managesandimplementsthedatacollectionprocess,analyzestheresults,andcommunicatesthefindingsandtheirimplications.KeyTerms&Definitions1-5Descriptive:ThegatheringandpresentingofstatementsoffactDiagnostic:TheexplanationofdataoractionsPredictive:Thespecificatio
5、nofhowtousedescriptiveanddiagnosticresearchtopredicttheresultsofaplannedmarketingdecisionTheThreeCriticalRolesofMarketingResearchKeyTerms&DefinitionsWhatHolidayInnFound:Theirguestsweremostlybusinessorsalespeopleandgovernmentemployees.Theydidnotwanttojustsitaroundinthei
6、rrooms.Theywantedtosocializewhilestayingatthehotel,sothemanagementdecidedthebarshouldplayabiggerandmoresignificantrole.Asasocialhub,thebarcouldoffermorefoodthatcouldbeshared.Theaddedfoodcouldbeservedbybarstaff,insteadofrestaurantworkers,andlaborcostscouldbelowered.1-6D
7、iscoveringOpportunitiesintheMarket1-7TheExternalMarketingEnvironmentKeyTerms&DefinitionsMarketingMix:Theuniqueblendofproduct/service,pricing,promotion,anddistributionstrategiesdesignedtomeettheneedsofaspecifictargetmarket.Thismixmustbealteredovertimebecauseofchangesint
8、heexternalenvironment.Customersareaddedandsomedropoutoftherelevantmarkets.1-8Thequalitybeingdeliveredisataleveldesire
