MKT 100 Chapter Notes - Chapter 1: Submarine Sandwich, Pro Forma, Voice Of The Customer
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MKT 100 Full Course Notes
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Ps, action programs, and projected or pro forma income (and other financial) statements. Firms develop a marketing plan that specifies their marketing activities for a specific period of time. The marketing plan is broken down into various components how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer. In any exchange, the buyer and the seller should be satisfied with the value they obtained from a transaction. Marketing is about satisfying customer needs and wants. Understanding and satisfying consumer needs and wants is fundamental to marketing success. Need - basic necessities, such as food, clothing, shelter, and safety. Want - the particular way in which a person chooses to satisfy a need, which is shaped by a person"s knowledge, culture, and personality. For example, when we are hungry, we need something to eat.
