[MCS 1000] - Midterm Exam Guide - Comprehensive Notes for the exam (25 pages long!)

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

Document Summary

Marketing defined: discover the needs and wants of prospective customers, satisfy them. Requirements for marketing to occur: two or more parties (individuals or organizations) and unsatisfied needs a, a desire and ability on their part to be satisfied, a way for parties to communicate, something to exchange. Social marketing: idea marketing that focuses on enhancing social ends in a prevalent. Ultimate consumer: everyone who uses goods and services purchased for a household. Organizational buyer: units (like manufacturers, retailers, or government agencies) that buy goods and services for their own use or for resale. Consumers may not always know or be able to describe what they want. Consumers do not know how they much benefit from such products (so just listening isn"t ensure marketing success) Target market: one or more specific groups of potential consumers toward which an organization directs its marketing program. The four p"s elements of the marketing mix.