Exam study notes for Marketing.

Marketing is a social and managerial process by which individuals and groups carry what they need and want through creating and exchanging products and value with others.

Marketing Management Philosophies.

* The issue Concept: The production imageion holds that consumers will favor products that be available and highly affordable. Therefore, management should focus on modify production and distribution efficiency.

* The product Concept: The product concept holds that consumers will favor products that offer the most quality, performance and mod features. Thus, an organization should develop strategy to making continues product improvements.

* The selling Concept: The selling concept holds that the consumers will not vitiate enough goods unless the organization undertakes a large scale selling and promotional effort.

* The Marketing Concept: The market placeing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired blessedness more operationively and efficiently than competitors do.

* The societal marketing concept: Organizations should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively and efficiently than competitors do in a mode that maintains or improves consumers and societys well being.

Market enquiry Objectives.

Exploratory Research: Marketing inquiry to gather preliminary information that will help to go under problems better and suggest hypotheses.

Descriptive Research: Marketing research to account marketing problems, situation or markets better- such as the market potential for a product or the demographic and attitudes of customers.

Casual Research: Marketing research to test hypotheses about cause and effect relationship.

Techniques for data collection.

Observational Research: The gathering of immemorial data by observing relevant people actions and situations.

Survey Research: The gathering of primary data by asking people questions about their noesis attitudes, preferences and buying behavior.

Experimental Research: The gathering of primary data by selecting matched...

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