COMMERCE 1E03 Chapter Notes - Chapter 14: Market Segmentation, Data Warehouse, Sales Promotion
19 Apr 2018
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Marketing: a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Activities buyers and sellers perform to facilitate mutually satisfying exchanges. Market: a group of people with unsatisfied wants and needs who have the resources and the willingness to buy. Going from selling, advertising, and distribution from seller to the buyer to helping the buyer buy. Ex. people go online first before buying a new or used car. The easier a marketer makes the purchase decision process, the more the marketer will prices and features. The role of marketers is to make sure that a company"s products/services are easily found online, and that the company responds effectively to potential customers. Produce as much as you can because there is a limitless market for it : production (1900s): Business owners were mostly farmers, carpenters, and trade workers. Demand exceeded supply, limited production capability and vast demand for products.
