MKT 100 Study Guide - Midterm Guide: Avon Products, Operational Excellence, Marketing
1
MKT 100 Full Course Notes
Verified Note
1 document
Document Summary
According to cma, marketing is a set of business practices desgined to plan for and present an organization"s products or services in ways that build effective customer relationships . --> good marketing is not a random activity; it requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on consumers and society in general. Firms develop a marketing plan that specifies their marekting 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. Ex) when we are hungry, we need something to eat. Some people want a mcdonald sandwich to satisfy that hunger. To understand customer needs and wants, the. Marketing can be performed by both individuals and organizations. Marketing requires product, price, place, and promotion decisions.
