0_Wizard
Marketing all about studying and managing of exchange relationships.
Marketing is the study and management of exchange relationships.
chosen_Marketing_0
Marketing
chosen_topic_0_Marketing
Leader–member exchange theory
The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way (dyadic) relationship between leaders and followers. It suggests that leaders develop an exchange with each of their subordinates, and that the quality of these leader–member exchange relationships influences subordinates' responsibility, decisions, and access to resources and performance. Relationships are based on trust and respect and are often emotional relationships that extend beyond the scope of employment. Leader–member exchange may promote positive employment experiences and augment organizational effectiveness.
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Marketing is defined by the American Marketing Association as ""the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."" The term developed from the original meaning which referred literally to going to market with goods for sale.
Gift economy
A gift economy, gift culture, or gift exchange is a mode of exchange where valuables are not traded or sold, but rather given without an explicit agreement for immediate or future rewards. This contrasts with a barter economy or a market economy, where goods and services are primarily exchanged for value received. Social norms and custom govern gift exchange. Gifts are not given in an explicit exchange of goods or services for money or some other commodity. The nature of gift economies forms the subject of a foundational debate in anthropology. Anthropological research into gift economies began with Bronisław Malinowski's description of the Kula ring in the Trobriand Islands during World War I.
Trait activation theory
Trait activation theory is a personality theory of work performance based on the concept of trait activation, that is derived from an integration of trait theory, situationism, and personality-job fit theory. "Trait theory" is a psychological approach that includes studying personality traits as relatively stable individual differences that describe general predispositions or predictable common patterns of thinking and experiencing emotions that influence behavior. In fact, personality traits have been associated with important life outcomes (see Personality and life outcomes). The most well-known description or categorization of personality traits is called the "Big Five personality traits" which includes five broad personality dimensions: conscientiousness, extraversion, agreeableness, openness, and neuroticism (or emotional stability).
Power distance
Power distance is the extent to which the lower ranking individuals of a society "accept and expect that power is distributed unequally". It is primarily used in psychological and sociological studies on societal management of inequalities between individuals, and individual's perceptions of that management. People in societies with a high power distance are more likely to conform to a hierarchy where "everybody has a place and which needs no further justification". In societies with a low power distance, individuals tend to try to distribute power equally. In such societies, inequalities of power among people would require additional justification.
Customer relationship management
Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth. One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials, and more recently, social media. Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences and how to best cater to their needs.
Indian Institute of Management Lucknow
The Indian Institute of Management Lucknow (abbreviated IIM Lucknow or IIM-L) is an autonomous public business school in Lucknow, Uttar Pradesh, India. It was established in 1984 as the fourth Indian Institute of Management (IIM) by the Government of India. IIM Lucknow offers post-graduate diploma, fellowship and executive programs in management. It is recognised as an "Institution of Excellence" by India's Ministry of Human Resource Development. IIM Lucknow also serves as the mentor institution for the newly established IIM Rohtak and IIM Kashipur. The institute is on a 200-acre site in the northern outskirts of Lucknow.
1_Apprentice
Yes it is important in marketing to have a business to customer relationship. What else do you know about Marketing?
0_Wizard
The term originated from the original meaning which referred literally to going to market with goods for sale.
The term developed from the original meaning which referred literally to going to market with goods for sale.
chosen_Marketing_0
Marketing
chosen_topic_0_Marketing
Originalism
In the context of United States constitutional interpretation, originalism is a way to interpret the Constitution's meaning as stable from the time of enactment, which can be changed only by the steps set out in Article Five. The term originated in the 1980s. Today, originalism is popular among some political conservatives in the U.S., and it is most prominently associated with Justice Clarence Thomas, Justice Neil Gorsuch, the late Justice Antonin Scalia, and judge Robert Bork. Some liberals, such as late Justice Hugo Black and jurist Akhil Amar, have also subscribed to the theory. Originalism is an umbrella term for interpretative methods that hold to the "fixation thesis", the notion that an utterance's semantic content is fixed at the time it is uttered.
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Marketing is defined by the American Marketing Association as ""the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."" The term developed from the original meaning which referred literally to going to market with goods for sale.
Glossary of ancient Roman religion
The vocabulary of ancient Roman religion was highly specialized. Its study affords important information about the religion, traditions and beliefs of the ancient Romans. This legacy is conspicuous in European cultural history in its influence on later juridical and religious vocabulary in Europe, particularly of the Western Church. This glossary provides explanations of concepts as they were expressed in Latin pertaining to religious practices and beliefs, with links to articles on major topics such as priesthoods, forms of divination, and rituals. For theonyms, or the names and epithets of gods, see List of Roman deities.
Business
A business (also known as an enterprise, a company, or a firm) is an organizational entity and legal entity made up of an association of people, be they natural, legal, or a mixture of both who share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific declared goals and are involved in the provision of goods and services to consumers. A business can also be described as an organization that provides goods and services for human needs. A company or association of persons can be created at law as legal person so that the company in itself can accept limited liability for civil responsibility and taxation incurred as members perform (or fail) to discharge their duty within the publicly declared ""birth certificate"" or published policy.
List of placeholder names by language
This article is about placeholder names in various languages. In Afrikaans, "dinges" ('thing'), "goeters" ('things'), "watsenaam" ('what's its name') are common placeholders. A common placeholder name for a semi-mythological place - much the same as Timbuktu - is "Pofadder" (a real town). A general term for a far away, remote/rural environment is "Boendoe". "Van die jaar toet" (from the year "tut") is often used to indicate an unspecified, long time ago. Arabic uses "Fulan", "Fulana[h]" (فلان / فلانة) and when a last name is needed it becomes "Fulan AlFulani", "Fulana[h] AlFulaniyya[h]" (فلان الفلاني / فلانة الفلانية).
Anarchist economics
Anarchist economics is the set of theories and practices of economic activity within the political philosophy of anarchism. As a rule, anarchists are anti-capitalists. They argue that its characteristic institutions promote and reproduce various forms of economic activity which they consider oppressive, including private property, hierarchical production relations, collecting rents from private property, taking a profit in exchanges, and collecting interest on loans. They generally endorse possession-based ownership rather than propertarianism. The early English anarchist William Godwin's views on economics could be summarized as follows: "he envisages the possibility of specialization in the various crafts, which would lead to a man's following the task for which he had the greatest aptitude, and distributing his surplus products to whoever may need them, receiving what he himself needs of other things from the surplus produced by his neighbours, but always on the basis of free distribution, not of exchange.
Value-form
The value-form or form of value () is a concept in Karl Marx's critique of political economy, Marxism and post-Marxism. It refers to the "social form" of a commodity (any product traded in markets) as a symbol of value, which contrasts with its physical features, as a product which can satisfy some human need. The physical appearance of a commodity is directly observable, but the meaning of its social form is not. Narrating the paradoxical oddities and metaphysical niceties of ordinary things when they become instruments of trade, Marx seeks to provide a brief morphology of the category of economic value as such - what its substance really is, the forms which this substance takes, and how its magnitude is determined or expressed.
1_Apprentice
Neat! I'm guessing the term originated a long time ago! It's interesting how almost/all companies need to use Marketing!
0_Wizard
as  ""the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage."" it does seem essential
In this context, marketing can be defined as ""the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.""
chosen_Marketing_0
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Marketing is defined by the American Marketing Association as ""the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."" The term developed from the original meaning which referred literally to going to market with goods for sale.
Strategic management
Strategic management is the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.
Competitive advantage
In business, a competitive advantage is the attribute that allows an organization to outperform its competitors. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology. Competitive advantage is the leverage that a business has over its competitors. This can be gained by offering clients better and greater value. Advertising products or services with lower prices or higher quality interests consumers. Target markets recognize these unique products or services.
Strategic information system
Strategic information systems (SIS) are information systems that are developed in response to corporate business initiative. They are intended to give competitive advantage to the organization. They may deliver a product or service that is at a lower cost, that is differentiated, that focuses on a particular market segment, or is innovative. Strategic information management (SIM) is a salient feature in the world of information technology (IT). In a nutshell, SIM helps businesses and organizations categorize, store, process and transfer the information they create and receive. It also offers tools for helping companies apply metrics and analytical tools to their information repositories, allowing them to recognize opportunities for growth and pinpoint ways to improve operational efficiency.
Marketing strategy
Marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal achieving a sustainable competitive advantage. Strategic planning involves an analysis of the company's strategic initial situation prior to the formulation, evaluation and selection of market-oriented competitive position that contributes to the company's goals and marketing objectives. Scholars continue to debate the precise meaning of marketing strategy. Consequently, the literature offers many different definitions. On close examination, however, these definitions appear to centre around the notion that strategy refers to a broad statement of what is to be achieved.
Creating shared value
Creating shared value (CSV) is a business concept first introduced in "Harvard Business Review" article "Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility". The concept was further expanded in the January 2011 follow-up piece entitled "Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society". Written by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School, and Mark R. Kramer, Kennedy School at Harvard University and co-founder of FSG, the article provides insights and relevant examples of companies that have developed deep links between their business strategies and corporate social responsibility (CSR).
Capability management in business
Capability management is the approach to the management of an organization, typically a business organization or firm, based on the "theory of the firm" as a collection of capabilities that may be exercised to earn revenues in the marketplace and compete with other firms in the industry. "Capability Management" seeks to manage the stock of capabilities within the firm to ensure its position in the industry and its ongoing profitability and survival. Prior to the emergence of capability management, the dominant theory explaining the existence and competitive position of firms, based on Ricardian economics, was the resource-based view of the firm (RBVF).
1_Apprentice
Correct! Yes! It is so important to keep valued customers happy! You don't want to upset them.
0_Wizard
Definitely!! When the customer is the focus of its activities, marketing can be concluded to be one of the premier components of Business Management - the other being Innovation.
With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation.
chosen_Marketing_0
List of Mad Men characters
partner_6_List_of_Mad_Men_characters
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Marketing is defined by the American Marketing Association as ""the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."" The term developed from the original meaning which referred literally to going to market with goods for sale.
Design management
Design management is a business discipline that uses project management, design, strategy, and supply chain techniques to control a creative process, support a culture of creativity, and build a structure and organization for design. The objective of design management is to develop and maintain an efficient business environment in which an organization can achieve its strategic and mission goals through design. Design management is a comprehensive activity at all levels of business (operational to strategic), from the discovery phase to the execution phase. "Simply put, design management is the business side of design.
Strategic management
Strategic management is the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.
Touchpoint
A touchpoint can be defined as any way a consumer can interact with a business, whether it be person-to-person, through a website, an app or any form of communication (“Touchpoint Glossary”, n.d.). When consumers come in contact with these touchpoints it gives them the opportunity to compare their prior perceptions of the business and form an opinion (Stein, & Ramaseshan, 2016). Touchpoints in marketing communications are the varying ways that a brand interacts and displays information to prospective customers and current customers. Touchpoints allow customers to have experiences every time they “touch’ any part of the product, service, brand or organization, across multiple channels and various points in time (Pantano and Milena, 2015 and Zomerdijk and Voss, 2010).
Strategic information system
Strategic information systems (SIS) are information systems that are developed in response to corporate business initiative. They are intended to give competitive advantage to the organization. They may deliver a product or service that is at a lower cost, that is differentiated, that focuses on a particular market segment, or is innovative. Strategic information management (SIM) is a salient feature in the world of information technology (IT). In a nutshell, SIM helps businesses and organizations categorize, store, process and transfer the information they create and receive. It also offers tools for helping companies apply metrics and analytical tools to their information repositories, allowing them to recognize opportunities for growth and pinpoint ways to improve operational efficiency.
Consumer behaviour
Consumer behaviour is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services, including the consumer's emotional, mental and behavioural responses that precede or follow these activities. Consumer behaviour emerged in the 1940s and 50s as a distinct sub-discipline in the marketing area. Consumer behaviour is an inter-disciplinary social science that blends elements from psychology, sociology, social anthropology, ethnography, marketing and economics, especially behavioural economics. It examines how emotions, attitudes and preferences affect buying behaviour.
History of marketing
The study of the history of marketing, as a discipline, is meaningful because it helps to define the baselines upon which change can be recognized and understand how the discipline evolves in response to those changes. The practice of marketing has been known for millennia, but the term "marketing" used to describe commercial activities buying and selling a products or services came into popular use in the late nineteenth century. The study of the history of marketing as an academic field emerged in the early twentieth century. Marketers tend to distinguish between the history of marketing practice and the history of marketing thought:  Although the history of marketing thought and the history of marketing practice are distinct fields of study, they intersect at different junctures.
1_Apprentice
Yeah I would say that using Marketing to keep current products or services of a company is number one priority, followed by innovative ideas!