MCS 1000 Lecture Notes - Lecture 1: Technological Change, Marketing Mix, Health Canada

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Marketing: activity for creating, communicating, delivering & exchanging offerings that bene t the organization, its stakeholders and society at large importance on delivering genuine bene ts: everyone bene ts; organization, stakeholders (customers, employees etc. ), and society: seeks to discover needs & wants of prospective customers, satisfy prospective customers. Msc1000 de nition: the process in which individuals and rms engage to sell and purchase products or services. Ultimate consumers: people who use the goods/services purchased for household. Organizational buyers: units (manufacturers, retailers, government agencies) that buy goods/services for their own use or for resale. Requirements for marketing: 2+ parties present with unsatis ed needs, a desire/ability to be satis ed, a way for parties to communicate, something to exchange. Marketing does not create needs, but shapes wants. Determining consumer needs: consumers may not know what they need/want, consumers may not know how they bene t from product. Need: person feels physiologically deprived of basic necessity ie: food, clothing, shelter.