MKT 100 Chapter Notes - Chapter 1: Marketing Mix, Marketing, Tim Hortons

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Mkt100 chapter 1: overview of marketing (textbook notes) A marketing plan is a plan such that specifies marketing activities over a certain period of time. Ex: when we are hungry, we need something to eat. Some people want a salad to satisfy that hunger, whereas others want burger and fries instead. To understand customer needs and wants, the company must first identify the customers or market for their service: market refers to the world of trade. More specifically, it refers to the groups of people who need or want a company"s products or services and have the ability and willingness to buy them. Because marketing costs substantial amounts of money, it is not considered practical to sell your products and services to everyone. Instead, good marketers carefully seek out potential customers. Winter 2016 who have both an interest in the product and an ability to buy it.