MKT 100 Lecture Notes - Lecture 8: Ebay, Kijiji, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mrs.Chen

Document Summary

Core marketing concepts: needs, wants, and demands (demand has to have purchasing power, offerings and brands, target markets, positioning, an segmentation (segmentation dividing consumers in to categories/groups, value and satisfaction, marketing channels, marketing environment, supply chain, competition. Satisfying customer needs and wants: a need is when a person feels deprived of the basic necessities of life (i. e. food, clothing, shelter, or safety), a want is the particular way in which the person chooses to fulfill his or her need, which is shaped by a person"s knowledge, culture, and personality, the company must first identify the customers or market for its product or service, marketers divide the market into subgroups or segments of people to whom they are interested in marketing their products, services, or ideas, marketers build marketing strategies to meet the needs and wants of target market (how are you going to communicate with the market)