POM(CHAPTER 1 PT.2)

• Utility: refers to the total satisfaction consumers can receive from the consumption of a product.
• Value: --- costumers place on product. Since consumers have different needs and buying capacities, consumers assign varying values on the same product.
• Satisfaction: the measure of how well costumer expectations from a purchased product have been met.
• The Production Concept: efforts are concentrated in expanding production efficiency, to lower production cost, to lower prices.
• The Marketing Concept: considers the needs of both costumer and the product offered, to provide a solution to the costumer's actual or perceived problem.
• Relationship Marketing Concept: all marketing activities are towards establishing, maintaining, and strengthening meaningful long-term relationship with costumer.
• Societal Marketing Concept: beyond providing solutions to costumers, protects the costumers well-being and interest, as well as the environmental and society.
• The Product Concept: resources are focused on product improvement and innovation, product attributes and features are continuously enhance.
• The Selling Concept: emphasizes aggressive selling and promotional efforts, to sell what is manufactured rather than what the market wants.