[BU352] - Final Exam Guide - Everything you need to know! (45 pages long)
Document Summary
Marketing set of (cid:271)usi(cid:374)ess pra(cid:272)ti(cid:272)es desig(cid:374)ed to pla(cid:374) for a(cid:374)d prese(cid:374)t a(cid:374) orga(cid:374)izatio(cid:374)"s products or services in ways that build effective customer relationships. Good marketing requires planning with emphasis on the ethical implications of the decisions on consumers and society. Specifies marketing activities over a period of time. Marketing is about satisfying customer needs and wants. Want- particular way in which a person chooses to satisfy a need, which is shaped by a perso(cid:374)"s k(cid:374)o(cid:449)ledge, (cid:272)ulture a(cid:374)d perso(cid:374)ality. Understanding and satisfying needs and wants is fundamental to marketing success. Market- refers to the groups of people (cid:449)ho (cid:374)eed or (cid:449)a(cid:374)t a (cid:272)o(cid:373)pa(cid:374)y"s produ(cid:272)ts or ser(cid:448)i(cid:272)es and have the ability and willingness to buy them. Company must first identify customers or market. Market can be segmented or divided into groups who are pertinent to an organization for particular reasons. Not practical to sell products to everyone.
