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Marketing Basics - Kotler Philip

Key Concepts in Chapter 1

Demand is a need reinforced by purchasing power.

Concept for intensifying commercial efforts ? the assertion that consumers will not buy the organization’s goods in sufficient quantities if it does not make significant marketing and promotion efforts.

Marketing concept ? the assertion that the key to achieving the organization’s goals is to determine the needs and requirements of the target markets and ensure the desired satisfaction in more effective and more productive ways than competitors.

The concept of production improvement ? the assertion that consumers will be favorable to goods that are widely distributed and affordable, and therefore, management should focus its efforts on improving production and increasing the efficiency of the distribution system.

Product improvement concept ? the statement that consumers will be favorable to products offering the highest quality, best performance and characteristics, and therefore, the organization should focus its energy on the continuous improvement of the product.

The concept of social and ethical marketing ? the assertion that the organization’s task is to establish the needs, needs and interests of the target markets and provide the desired satisfaction with more effective and more productive than competitors' methods, while maintaining or strengthening the well-being of the consumer and society as a whole.

Marketing ? type of human activity aimed at meeting the needs and requirements through exchange.

Need ? a feeling of a person lacking something.

Exchange ? the act of receiving from someone the desired object with the offer of something in return.

Need ? need, which has taken a specific form in accordance with the cultural level and personality of the individual.

The market ? the totality of existing and potential buyers of goods.

Deal ? commercial exchange between the two parties, assuming at least the presence of two objects of valuable significance and agreed conditions, time and place of its fulfillment.

Product ? everything that can satisfy a need or need and is offered to the market in order to attract attention, purchase, use or consumption.

Trade and operational efficiency ? the probability of making an exchange in a given volume through as few transactions as possible.

Marketing management ? analysis, planning, implementation and monitoring of activities designed to establish, strengthen and maintain profitable exchanges with target customers in order to achieve the goals of the organization.

Marketing Manager ? an employee of the company engaged in the analysis, planning, implementation of the intended and / or control functions.