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Marketing concept: This is the most common concept used in contemporary marketing, and is a customer-centric approach based on products that suit new consumer tastes. These firm engage in extensive market research , use R&D (Research & Development), and then use promotion techniques.
Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. [1] [2] It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication beyond ...
The contemporary definition of 'marketing' as a process of moving goods from producer to consumer with an emphasis on sales and advertising first appeared in dictionaries in 1897. [8] The term, marketing, is a derivation of the Latin word, mercatus meaning market-place or merchant. [9]
In political economy and especially Marxian economics, exchange value (German: Tauschwert) refers to one of the four major attributes of a commodity, i.e., an item or service produced for, and sold on the market, the other three attributes being use value, economic value, and price. [1] Thus, a commodity has the following:
While marketing, in the sense of firm's micro marketing activities, can be the same across contexts, cultures, and nations, a marketing system is a unique market structure pertaining to a specific context (e.g. agricultural marketing systems in Africa). Marketing system is a differentiated subset of social system.
v. t. e. A gift economy or gift culture is a system of exchange where valuables are not sold, but rather given without an explicit agreement for immediate or future rewards. [1] Social norms and customs govern giving a gift in a gift culture; although there is some expectation of reciprocity, gifts are not given in an explicit exchange of goods ...
t. e. The secondary market, also called the aftermarket and follow on public offering, is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. [1]
Digital marketing planning is a term used in marketing management. It describes the first stage of forming a digital marketing strategy for the wider digital marketing system. The difference between digital and traditional marketing planning is that it uses digitally based communication tools and technology such as Social, Web, Mobile ...