Management and Organizational Studies 2320A/B Lecture Notes - Marketing Plan, Target Market, Pro Forma

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B

Document Summary

In any exchange, the buyer and the seller should be satisfied with the value they obtained from a transaction. The consumers who want and can afford a particular product or service. To find your target market you need to do research. Exchange: the trade of things of value between the buyer and the seller so that each is better off as a result. Sellers provide goods or services, then communicate and facilitate the delivery of their offering to consumers. Buyers complete the exchange by giving money and information to the seller. Companies use the information you provide them with (ex. previous songs purchased on itunes, previous purchasing habits, postal code, etc. ) to facilitate future exchanges and solidify their relationship with you. The 4 ps work together: although marketers deliver value through each of them individually, they can deliver greater value to customers by treating the 4 ps as a whole rather than as separate components.