Summary Marketing fundamentals Book cover image

Summary Marketing fundamentals

- Bronis Verhage
ISBN-10 9001707335 ISBN-13 9789001707330
343 Flashcards & Notes
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A snapshot of the summary - Marketing fundamentals Author: Bronis Verhage ISBN: 9789001707330

  • 1 What is marketing?

  • What are external environmental factors?

    Factors that companies can't influence. They must adapt to these trends or events

  • What does an environmental analysis entail?

    The monitoring and evaluation of the external environment to determine the source of a company's opportunities and threats

  • Which 3 environments influence the external environment?

    - mesoenvironment

    - macroenvironment

  • What is the essence of marketing?

    Developing relationships with customers and satisfy their needs, so that both parties achieve their objectives

  • What are the 4 types of customer markets?

    - Consumer market:       products or services for individuals, families, households, etc.

    - Industrial market:        goods sold to and purchased by businesses

    - Intermediary market  organisations that buy products and resellt them without any further processing

    - Institutional market:   large-scale users, government agencies and other non-profit organisations

  • What are the 4 main public groups?

    • Financial institutions
    • the media
    • government
    • interest groups
  • What are the six macroenvironmental factors?  (DE STEP)

    1. Demographic    -->> population, households, purchasing
    2. Economic             -->> economy, consumer confidence, competition
    3. Political-legal      -->> regulations, subsidies, laws
    4. Ecological             -->> pollution, government, environtmental movements
    5. Technological     -->> product innovation, timing, technical know-how
    6. Socio-cultural      -->> standard, values, consumerism
  • 1.1 The meaning of marketing

  • What is a target market?
    The part of the market that an organisation concentrates on and wants to turn into customers
  • 1.2 Levels of marketing systems

  • Name the levels of marketing systems?
    • Macromarketing
    • Mesomarketing
    • Micromarketing
  • 1.3 Development of the marketing mindset

  • What is the Societal marketing concept?
    Balancing the interests of customers (satisfaction of needs), the company (profits) and society (long-run human welfare)
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