MGCR 352 Chapter Notes -Corn Chip, Market Segmentation, Online Transaction Processing
11 Dec 2012
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Document Summary
Twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Marketing is 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. Ideas (madd-the idea of not drinking and driving) Human resources (#1 challenge for businesses today because of demographic transition) Strategy (long-term focus-business plan; entrepreneurs spend the least time on this because they don"t have time to think long-term when they are so busy with day-to-day tasks) Wants: form that needs take as they are shaped by culture and individual personality, marketers create wants. Demands: wants backed by buying power. Self-actualization needs self-development and realization very relative (different things to different people) Social needs sense of belonging, love. Physiological needs hunger, thirst, food, sex.
