MKT 304: Chapter 1: Key Terms

Customer Satisfaction

Marketing orientation

Production orientation

Micro-marketing

Macro-marketing

Micro-macro dilemma

Marketing Ethics

Marketing Concept

Marketing Eras
Production vs. Marketing
Marketing
Makes sure the right goods &
services are produced
Production
• Making Goods
• Performing Services
Creates Customer Satisfaction
© 2001 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
Two Realms of Marketing
Micro
Macro
• Set of activities
• Social process
• Performed by
organizations
OR
• Matches
supply with
demand
What is the function of marketing?
Marketing Bridges the Gap!
Producers
Marketing
Functions
Consumers
Marketing’s Role Has Changed Over Time
Simple Trade Era
Focus:
Sell Surplus
Production Era
Focus:
Increase Supply
Sales Era
Focus:
Beat Competition
Marketing Department
Era
Focus:
Coordinate and Control
Marketing Company Era
Focus: Long-Run
Customer Satisfaction
Exhibit 2-1
The Marketing Concept
Customer
Satisfaction
Total Company
Effort
The
Marketing
Concept
Profit
Micro-Macro Dilemma
• How do we balance the needs of
individual consumers at a micro level
with those of society at a macro level?
The Marketing Concept, Social Responsibility,
and Marketing Ethics
Group Needs
Individual Needs
Conflict
Social
Responsibility
Should All
Needs Be
Satisfied?
How Does This
Impact Profits?