MCS 1000 Chapter Notes - Chapter 1: Health Canada, Customer Relationship Management, Marketing Mix

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

Marketing is not advertising, advertising is only a small element of marketing. Effective marketing requires extensive knowledge and understanding of consumers and the marketplace. Is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Prospective customers include both individuals buying for themselves and organizations that buy their own use (manufacturers) or for resale (wholesale and retailers) The concept of marketing implies exchange of value between consumers and firms. however, in this course, marketing is referred to as the process in which individual(s) and firms engage to sell and purchase products or services. Requirements for marketing to occur: two or more parties (individuals or organizations) with unsatisfied needs, a desire and ability on their part to be satisfied, a way for the parties to communicate, something to exchange.