Marketing Research

DEFINITION PROCESS CLASSIFICATION

The Professional Associations [AMA and EMA] define marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.

It means having the right product, in the right place, with the right price and information that will satisfy the selected customers as the means to achieve organizational objectives.

Consumers favor products that are

available and highly affordable.

Improve production and distribution.

Consumers favor products that offer

the most quality, performance, and

innovative features.

Consumers will buy products only if

the company promotes/ sells these

products.

Focuses on needs/ wants of target

markets & delivering satisfaction

better than competitors.

Focuses on needs/ wants of target

markets & delivering superior value.

The betterment of society as a whole.

An Evolutionary Perspective of Marketing

Transaction Marketing (Product Marketing): Emphasizes competitive advantage to sell more and more quickly.

Relational Marketing (Services Marketing): Emphasizes customer loyalty to build up long-term relationship.

Experiential Marketing: Emphasizes customer participation to further enhance customer satisfaction

An Evolutionary Perspective of Marketing

• Transaction Marketing (Product Marketing): Emphasizes competitive advantage to sell more and more quickly.

• Relational Marketing (Services Marketing): Emphasizes customer loyalty to build up long-term relationship.

• Experiential Marketing: Emphasizes customer participation to further enhance customer satisfaction

An Evolutionary Perspective of Marketing

• Transaction Marketing (Product Marketing): Emphasizes competitive advantage to sell more and more quickly.

• Relational Marketing (Services Marketing): Emphasizes customer...