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By the end of this chapter, you should be able to:
➔ define marketing and understand its relationship with other business functions
➔ explain the difference between the marketing of goods and the
marketing of services
➔ distinguish between market orientation and product orientation
➔ explain the difference between commercial marketing, social
marketing and social media marketing
➔ describe the elements that characterize the market in which an
organization operates
➔ calculate market share
➔ discuss the importance of market share and market leadership
➔ compare and contrast the marketing objectives of for-profit
organizations and non-profit organizations
➔ evaluate how marketing strategies evolve as a response to changes
in customer preferences
➔ examine how the concepts of innovation, ethics and culture
influence marketing practices and strategies.