discussion post

Requirements: N/A This week’s readings provide an understanding of the meaning of the term “marketing”. It will also explain the importance of marketing, as well as, introduce and provide an overview of the marketing management framework. Marketing is defined as an exchange relationship between a firm and its customers wherein the customer wants something from the firm, and the firm wants something from the customer. Marketing can be involved with educating the marketplace. Its importance can be explained through its evolution from the production-focused stage to the sales-oriented stage, and finally, the customer-oriented marketing world. Due to the current customer-oriented environment, firms understand the importance of creating and maintaining relationships with their customers. It will also identify the 5Cs of marketing: customer, company, context, collaborators, and competitors. It then describes the STP (segmentation, targeting, and positioning) framework, followed by an explanation of the 4Ps of marketing [i.e., product, price, place (distribution), and promotion].The explanation of how to identify and describe the three phases of the purchasing process (pre-purchase, purchase, and post-purchase). You will be able to distinguish among the types of purchase for consumers and for businesses (convenience purchases, shopping purchases, and specialty purchases versus straight re , modified re , or a new ). Students will also understand the role of sensation and perception; learning, memory, and emotions; motivation; and attitudes and decision making in the purchasing process (i.e., consumer behavior), as well as, how culture affects these decisions. From a managerial perspective, the readings will help students to understand how the purchase processes are similar and how the level of consumer involvement depends upon the type of purchase Understand the meaning of the term “marketing.” Explain the importance of marketing.[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!] This week’s readings provide an understanding of the meaning of the term “marketing”. It will also explain the importance of marketing, as well as, introduce and provide an overview of the marketing management framework. Marketing is defined as an exchange relationship between a firm and its customers wherein the customer wants something from the firm, and the firm wants something from the customer. Marketing can be involved with educating the marketplace. Its importance can be explained through its evolution from the production-focused stage to the sales-oriented stage, and finally, the customer-oriented marketing world. Due to the current customer-oriented environment, firms understand the importance of creating and maintaining relationships with their customers. It will also identify the 5Cs of marketing: customer, company, context, collaborators, and competitors. It then describes the STP (segmentation, targeting, and positioning) framework, followed by an explanation of the 4Ps of marketing [i.e., product, price, place (distribution), and promotion].The explanation of how to identify and describe the three phases of the purchasing process (pre-purchase, purchase, and post-purchase). You will be able to distinguish among the types of purchase for consumers and for businesses (convenience purchases, shopping purchases, and specialty purchases versus straight re , modified re , or a new ). Students will also understand the role of sensation and perception; learning, memory, and emotions; motivation; and attitudes and decision making in the purchasing process (i.e., consumer behavior), as well as, how culture affects these decisions. From a managerial perspective, the readings will help students to understand how the purchase processes are similar and how the level of consumer involvement depends upon the type of purchase
Understand the meaning of the term “marketing.”
Explain the importance of marketing.[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!]