Marketing- The management of exchange between firms and its customers.
Marketing Management- matches firm resource capabilities to the environment.
Marketing as an exchange process- producerwholesalerretailercustomer
ELF Value Creation- Exchange(buying/selling), Logistical (transporting/storing), Facilitating (Financing/Risk-taking/Standardizing and grading/Information acquisition and provision)
Form Utility- Transformation of raw materials and/or labor into a finished good and/or service that the consumer desires.
Place Utility- Availability of a good and/or service where the consumer wants or needs it.
Ownership Utility- Transferring title of a good and/or service from producer to consumer.
Time Utility- Availability of a good and/or service when consumer wants/needs it.
Marketing as a Process:
I. Marketing strategy
a. Target market selection
b. Tailored marketing mix
c. Positioning strategy
II. Value Proposition
III. Exchange
IV. Customer Satisfaction
V.......

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Title: Marketing Management
Approximate Word Count: 711
Approximate Pages: 3 (250 words per double-spaced page)

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