MKT 100 Study Guide - Quiz Guide: Marketing Mix, Ebay, Unit

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Martin Pyle

Document Summary

Marketing -> the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. A set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Requires developing products and services that fulfill those unmet needs/wants, or better meets them. To understand customer needs and wants, the company must first identify the customers or market for its products or service. Market -> refers to the group of people who need or want a company"s products or services and have the ability and willingness to buy them. The marketers divide the market into subgroups or segments of people to whom they are interested in marketing their products, services, or ideas. Target market -> the customer segment or group to whom the firm is interested in selling its products and services.