Foundations of Marketing
William Pride
9th edition 2021
9780357129463
Pages book: 592
This summary: 47
Reading time: 150 min.
+ important visuals
+ 67 test questions and answers
+ 15 new marketing trends and developments for 2025
+ exam hack tips
,
,
, Chapter 1 – Marketing Concepts
What is Marketing?
Marketing: the activity, set of institutions, and process for creating, communicating,
delivering and exchanging offerings that have value for customers, client’s partners and
society at large
- A business function that deals with customers
- Marketing is managing profitable customer relationships
- The two fold goal of marketing is to attract new customers by promising superior value,
and to keep/grow current customers by delivering satisfaction
- Marketing comes down to perception
- A social/managerial process by which individuals/groups obtain what they need through
creating and exchanging products and values with others
Construct an
Understand the Design a Build profitable Capture value
integrated marketing
marketplace customer- relationships from
program that delivers
and customer driven and create customers to
superior value
needs/wants marketing customer create profits
strategy delight and customer
equity
Research
customers and Select Customer relationship
management: build Create satisfied loyal
the customers to
strong relationships customers
marketplace serve: market Product and service
segmentation design: build strong with chosen
and targeting customers Capture customer
Manage brands
lifetime value
marketing
information Decide on a Pricing: create real Partner relationship
and customer value value management: build Increase share of
data proposition: strong relationships market share and
differentiation with marketing share of customer
Distribution:
manage supply and partners
demand chains
Promotion:
communicate the
value proposition
Exchange: the act of obtaining a desired object from someone by offering something in
return
Marketing is the management activity concerned with:
- Identifying the needs of the customer
- Developing appropriate products
- Offered to a specific group of consumers
- Using a systematic plan to price, promote and distribute the product
- Mutual gain of both the provider and consumer
Has four main premises:
1. Consumer orientation
2. Continuous market research
3. All organisational activities and strategies are integrated
4. Convert satisfied consumers into loyal customers
William Pride
9th edition 2021
9780357129463
Pages book: 592
This summary: 47
Reading time: 150 min.
+ important visuals
+ 67 test questions and answers
+ 15 new marketing trends and developments for 2025
+ exam hack tips
,
,
, Chapter 1 – Marketing Concepts
What is Marketing?
Marketing: the activity, set of institutions, and process for creating, communicating,
delivering and exchanging offerings that have value for customers, client’s partners and
society at large
- A business function that deals with customers
- Marketing is managing profitable customer relationships
- The two fold goal of marketing is to attract new customers by promising superior value,
and to keep/grow current customers by delivering satisfaction
- Marketing comes down to perception
- A social/managerial process by which individuals/groups obtain what they need through
creating and exchanging products and values with others
Construct an
Understand the Design a Build profitable Capture value
integrated marketing
marketplace customer- relationships from
program that delivers
and customer driven and create customers to
superior value
needs/wants marketing customer create profits
strategy delight and customer
equity
Research
customers and Select Customer relationship
management: build Create satisfied loyal
the customers to
strong relationships customers
marketplace serve: market Product and service
segmentation design: build strong with chosen
and targeting customers Capture customer
Manage brands
lifetime value
marketing
information Decide on a Pricing: create real Partner relationship
and customer value value management: build Increase share of
data proposition: strong relationships market share and
differentiation with marketing share of customer
Distribution:
manage supply and partners
demand chains
Promotion:
communicate the
value proposition
Exchange: the act of obtaining a desired object from someone by offering something in
return
Marketing is the management activity concerned with:
- Identifying the needs of the customer
- Developing appropriate products
- Offered to a specific group of consumers
- Using a systematic plan to price, promote and distribute the product
- Mutual gain of both the provider and consumer
Has four main premises:
1. Consumer orientation
2. Continuous market research
3. All organisational activities and strategies are integrated
4. Convert satisfied consumers into loyal customers
