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1
Defining Marketing
for the 21st Century
What is Marketing?
Goods
Services
Events
Experiences
Persons
Places
Properties
Organizations
Information
Ideas
Negative Irregular
Nonexistent Unwholesome
Latent Full
Declining Overfull
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
Stated
Real
Unstated
Delight
Secret
Communication
Distribution
Service
Demographic Economic
Socio-cultural
Political-legal
Technological Natural
Production
Product
Selling
Marketing
Customers
Employees
Marketing Partners
Financial Community
People
Processes
Programs
Performance
Periodic surveys
Customer loss rate
Mystery shoppers
Monitor competitive performance
Customer Profitability
Customer Equity
Lifetime Value
To identify prospects
To target offers
To deepen loyalty
To reactivate customers
To avoid mistakes