MGTA05H3 Chapter Notes - Chapter 1: Services Marketing
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MGTA05H3 Full Course Notes
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Document Summary
That provides goods and services of value to customers. With the expectation of increasing value for the owners of the business, usually in the. Creates value by producing goods or services. Allocates that value to various stakeholders and realizes that value in transactions with customers form of profits customers. You might even create the desire for a product that has not previously existed. When value is realized through transactions, your customers must enter into transactions and pay for products and services. Suppliers obtain value through the prices they charge. Customers obtain value through prices they pay. Owners obtain value through the value that is not otherwise allocated (revenue) Profit becomes a goal the business is run for profit. The purpose of the business becomes more than the supply of a good or service. The purpose of the business becomes making profits. Shareholder equity is the amount the owners have invested in the business. Net sales/shareholder equity= return on shareholder equity.
