ADM 2320 Chapter Notes - Chapter 1: Baby Boomers, Root Mean Square, Marketing
20 Dec 2016
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L01 de ne the role of marketing and explain its core concepts. L02 describe how marketers create value for a product or service. L04 understand the importance of marketing both within and outside the rm. Marketing is all about satisfying consumer needs and wants pro tably. Need: basic necessities; occur when a person feels physiologically deprived of necessities. Want: how to ful ll that needs; shaped by culture and individual personality. The delivery of customer satisfaction in a way that bene ts the organization and its stakeholders (i. e. personal selling, advertising, making products available in stores, managing relationships with customers, designing new products, etc. ) 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. Two or more parties (individuals or organizations) with unsatis ed needs. A desire and ability on their part to be satis ed. A way for the parties to communicate.
