Chapter 1 - Marketing

Abstract

Marketing represents a dynamic interface in the design of the customer interaction. In this context, there are a number of key components of which the technical executive should be aware, including the concept of a market (a group of defined customers), market segmentation (those who have the potential to effect a transaction on the company’s offering) and the concept of economic utility (ability to provide the service or offering in exchange for monetary value). Understanding how a program is constructed is also relevant, in order for the RD this includes the aspects of the marketing mix, viz . product, place, promotion, and price.