Flashcards in D2C08 Introduction To Marketing Wine Deck (5)
Give one definition of marketing
CIM (Chartered Institute of Marketing):
The management process which is responsible for identifying, anticipating and satisfying consumer requirements profitably
In the context of marketing, what does consumer requirement involve?
> The wine
> The experience that the wine brings: confirmation of social status, ownership of something perceived as valuable, return on investment capital
What is the goal of marketing?
To create profits either through volume of sales or value of sales
What is considered a successful campaign
Marketing campaign costs money and resources. A successful one achieves adequate level of profit within a specified timetable