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The Role of Marketing in the Firm - Summary

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The types of marketing:
1. Macromarketing and micromarketing.
2. Service marketing and goods marketing.
3. For-profit marketing and nonprofit marketing.
4. Mass marketing, direct marketing, and internet marketing.
5. Local, regional, national, and international marketing.
6. Consumer goods marketing and business-to-business marketing.
Macromarketing - When the economic welfare of a whole society is considered in marketing.
Micromarketing - Marketing is limited to the success of the individual firm.
Service marketing - Tangibility is created by providing an environment to make customers feel comfortable.
Goods marketing - Intangibility is created so as to appear different from other competitors
For-profit marketing - Success is measured in terms of profitability and the ability to pay dividends or loans.
Mass Marketing - Characterized as having wide separation and indirect communication.
Direct Marketing - Establishes a somewhat personal relationship with the customer by communicating with the customer on a first-name basis after the customer purchases the product directly from the manufacturer.
Internet Marketing - Consumers have the most control with Internet marketing.
Local market - Concerned with customers that tend to be clustered tightly around the market.
Regional market - Covers larger geographic area that may necessitate multiple production plants.
National market - Distribute product throughout a country.
International market - Operation occurs in more than one country, hence legal or cultural differences affect a market strategy.
Global market - Product manufactured in any country.
Consumer goods market - Sell to individuals who consume finished product.
Industrial market - Sell to other businesses who consume the product.