MCS 1000 Chapter 1: chapter 1 summery.docx

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

It is not selling; (effective marketing can reduce the need for selling: marketing is not common sense (marketing requires intimate knowledge and understanding of consumers and the marketplace, which goes beyond common sense is the activity for creating, communicating, delivering, and exchanging offerings that benefit the, marketing: organizations, its stakeholders, and society at large, to serve both buyers and sellers, marketing seeks, to discover the needs and wants of prospective customers, to satisfy them, theses include prospective customers include both individuals buying for themselves or their households and organizations that buy for their own use or for resale, for marketing to occur at lease 4 factors are required, two or more parties (individuals or organizations) with unsatisfied needs: you develop an unmet need/ store has unmet needs, both parties have unmet needs, a desire and ability on their part to be satisfied.