BUSI 2201U Study Guide - Midterm Guide: Marketing Performance Measurement And Management, Customer Relationship Management, Strategic Business Unit
Document Summary
Marketing: is the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, it"s stakeholders, and society at large. Requirements for marketing to occur: two or more parties with unsatisfied needs a new flavor of lindt? . Desire and ability to satisfy these needs: a way for parties to communicate, something to exchange. What is a market, who markets, what is marketed: what is market: A market is people with the desire and ability to buy specific product: who markets: It is obvious that business firms involved in manufacturing, retailing, and providing services market their offerings: what is marketed. Goods, services, ideas and experiences are marketed. Wants: needs: when a person feels physiologically deprived of basic necessities, wants: a felt need that is shaped by a person"s knowledge, culture, and personality. How to capture customer needs: know your customers, know your offering, know the purchasing context. Marketing mix: product, price the 4 p"s, place, promotion.
